In a move
to bolster its presence in the Asia-Pacific region, TP ICAP, a provider of market infrastructure, has announced the acquisition of Aotearoa Energy, a New
Zealand-based brokerage firm specializing in gas, power, and carbon markets.
The
acquisition has aligned with TP ICAP’s growth aspirations in both the region and the
energy and commodities sector.
By
integrating Aotearoa Energy into its portfolio, TP ICAP aims to enhance its
market-leading Australian Power and Gas brokerage business while providing
clients with access to the highly sought-after New Zealand Emissions Units
(NZU) market.
Daniel
Skipper, the Founder of Aotearoa Energy, will continue to lead the company
post-acquisition, reporting to Kellee Campbell, the Divisional Director of Energy and Commodities for Australia and New Zealand at TP ICAP.
“This
is a strategically important acquisition for ICAP, and indeed the wider TP ICAP
Group, given our growth aspirations in both the region and sector,” said Campbell.
Today we announce our acquisition of New Zealand broker, Aotearoa Energy. Full Release: https://t.co/PB5oDhsckV pic.twitter.com/q6C8hqDbBV
— TP ICAP Group PLC (@TPICAPGroupPLC) March 19, 2024
The
collaboration between TP ICAP and Aotearoa Energy is expected to yield new
products and services, such as facilitating access to NZ Financial Transmission
Rights, which Aotearoa Energy currently offers to a select group of clients.
“TP
ICAP’s acquisition marks the next exciting chapter in Aotearoa Energy’s journey
of growth and innovation and aligns with our commitment to delivering
exceptional brokering services to our customers,” added Skipper.
TP ICAP Ended 2023 with
Profit
In addition
to new collaborations, TP ICAP announced its financial results for 2023 in March and a new share buyback program. The company reported a net statutory
profit of £74 million and an adjusted profit of £227 million. Despite a decline of 28.1% in the statutory profit, the adjusted figure saw a significant elevation of 17% compared to the previous year.
The
company’s strong performance has prompted its Board to recommend a final
dividend of 10 pence per share, representing an improvement of 27% increase. In addition to the
dividend uplift, TP ICAP has allocated £30 million to its share buyback
program, demonstrating the company’s confidence in its future prospects and
commitment to enhancing shareholder value.
In
February, TP ICAP’s UK-based wholesale spot crypto asset exchange, Fusion
Digital Assets, partnered with FalconX, an institutional
digital asset prime broker. This collaboration aims to provide FalconX with
access to competitive pricing and liquidity from TP ICAP’s wholesale clients,
leveraging Fusion Digital Assets’ framework.
In a move
to bolster its presence in the Asia-Pacific region, TP ICAP, a provider of market infrastructure, has announced the acquisition of Aotearoa Energy, a New
Zealand-based brokerage firm specializing in gas, power, and carbon markets.
The
acquisition has aligned with TP ICAP’s growth aspirations in both the region and the
energy and commodities sector.
By
integrating Aotearoa Energy into its portfolio, TP ICAP aims to enhance its
market-leading Australian Power and Gas brokerage business while providing
clients with access to the highly sought-after New Zealand Emissions Units
(NZU) market.
Daniel
Skipper, the Founder of Aotearoa Energy, will continue to lead the company
post-acquisition, reporting to Kellee Campbell, the Divisional Director of Energy and Commodities for Australia and New Zealand at TP ICAP.
“This
is a strategically important acquisition for ICAP, and indeed the wider TP ICAP
Group, given our growth aspirations in both the region and sector,” said Campbell.
Today we announce our acquisition of New Zealand broker, Aotearoa Energy. Full Release: https://t.co/PB5oDhsckV pic.twitter.com/q6C8hqDbBV
— TP ICAP Group PLC (@TPICAPGroupPLC) March 19, 2024
The
collaboration between TP ICAP and Aotearoa Energy is expected to yield new
products and services, such as facilitating access to NZ Financial Transmission
Rights, which Aotearoa Energy currently offers to a select group of clients.
“TP
ICAP’s acquisition marks the next exciting chapter in Aotearoa Energy’s journey
of growth and innovation and aligns with our commitment to delivering
exceptional brokering services to our customers,” added Skipper.
TP ICAP Ended 2023 with
Profit
In addition
to new collaborations, TP ICAP announced its financial results for 2023 in March and a new share buyback program. The company reported a net statutory
profit of £74 million and an adjusted profit of £227 million. Despite a decline of 28.1% in the statutory profit, the adjusted figure saw a significant elevation of 17% compared to the previous year.
The
company’s strong performance has prompted its Board to recommend a final
dividend of 10 pence per share, representing an improvement of 27% increase. In addition to the
dividend uplift, TP ICAP has allocated £30 million to its share buyback
program, demonstrating the company’s confidence in its future prospects and
commitment to enhancing shareholder value.
In
February, TP ICAP’s UK-based wholesale spot crypto asset exchange, Fusion
Digital Assets, partnered with FalconX, an institutional
digital asset prime broker. This collaboration aims to provide FalconX with
access to competitive pricing and liquidity from TP ICAP’s wholesale clients,
leveraging Fusion Digital Assets’ framework.
