Magellan Financial Group (ASX:MFG) complete their investment in FinClear

Company News

by Rachael Jones

Magellan Financial Group (ASX:MFG) has completed its investment in FinClear Holdings.

FinClear is a leading a provider of technology, trading infrastructure, and ASX market-access services to wealth, stockbroking, platform, and fintech customers.

Magellan’s investment comprises $20 million for around 16 per cent shareholding (fully diluted) and will have a representative on the Board of FinClear.

Magellan Financial Group (ASX:MFG) are trading 1.6 per cent lower at $56.64.