Afterpay's (ASX:APT) deal cleared by Spanish bank

Company News

by Lauren Evans

The Bank of Spain has given their tick of approval for Block’s takeover of Aussie buy now pay later darling, Afterpay (ASX:APT).

Afterpay’s last day of trade will be this time next week, then by Thursday, Block will start trading under ticker code SQ2.

Afterpay shares will be suspended from trading on the ASX on January 19, and Block will begin trading on the ASX on January 20 (on a deferred settlement basis) under the ticker SQ2. Block shares will trade on the ASX under normal settlement rules from February 2, after Afterpay shareholders receive their Block shares on February 1.

On a side note, Block is formally known as the US payment platform Square. 

Shares in Afterpay (ASX:APT) are trading 4.6 per cent higher at $76.88. 

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