ASX Limited (ASX) has entered into an underwriting agreement to sell its 18.6% shareholding in IRESS Limited (IRESS) (Sale). The Sale has been fully underwritten at a fixed price of $11.95 per share and is expected to realise gross proceeds of $385 million.
Dominic Stevens, ASX's Managing Director and CEO, said: "IRESS has been an attractive investment for ASX over many years. But we believe now is the right time to divest as it no longer provides the strategic value to ASX that it once did. ASX is focused on a multi-layered growth strategy built upon our position as an independent and reliable operator of financial market infrastructure.