19 October 2017

e-Scotia increases stake in Datawest

12 July 2002  |  1937 views  |  0 e-Scotia increases stake in Datawest

e-Scotia Acquisition, the e-business investment arm of Scotiabank Group, has upped its 11 per cent stake in financial technology vendor Datawest Solutions by $5 million to 15 per cent.

Under the transaction, e-Scotia subscribed to 1,562,000 units (each unit being comprised of one common share and one-half of one common share purchase warrant) being offered by Datawest by way of private placement, at a purchase price of $1.60 per unit.

Prior to the offering, e-Scotia owned 270,068 common shares and securities convertible or exercisable into an additional 2,959,615 common shares. The company now owns 1,832,568 common shares and securities convertible or exercisable into an additional 3,740,865 common shares in Datawest. e-Scotia's holdings now represent in the aggregate approximately 15.0% of the outstanding voting securities, or, assuming conversion and exercise, approximately 18.5% of the outstanding common shares of Datawest.

Datawest is a provider of banking and payment technology solutions for major financial institutions and other financial services organisations.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Scotiabank selects Sanchez/Datawest for mortgage processing

Scotiabank selects Sanchez/Datawest for mortgage processing

08 July 2002  |  2927 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15855 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8977 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8088 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7165 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6303 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job