Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Urbana Corporation has announced that it is investing a total of approximately US$8.5 million in Blue Ocean Technologies, a private company which facilitates the trading of U.S. listed equities
  • After the investment is complete, Urbana will own a 37 per cent stake in Blue Ocean Technologies
  • Urbana Corporation is an investment company that invests in the financial service sector, from exchanges to banks to broker-dealers and investment managers
  • Urbana (URB) is up 9.77 per cent and is trading at $3.37 per share

Urbana Corporation is investing a total of approximately US$8.5 million in Blue Ocean Technologies.

The total payment will be made in three stages:

  • a direct payment of $1.5 million
  • a second direct payment of $3 million once certain conditions are met
  • a purchase of $4 million shares of Blue Ocean Technologies from an existing shareholder.

Ralph Layman, CEO of Blue Ocean Technologies, commented,

“Urbana’s management are thought leaders in our industry, with investments in exchanges and trading platforms around the world.

“As a part of our partnership, we will also enter into a strategic alliance with the Canadian Securities Exchange. We look to collaborate through best practice sharing on technology and growing our Asia-Pacific customer bases.”

After the investment is complete, Urbana will own a 37 per cent stake in Blue Ocean Technologies.

Urbana’s Chairman, Thomas S. Caldwell, C.M., stated,

“Urbana views this as a great opportunity to participate in Asia/America securities trading.”

Blue Ocean Technologies is a private company which facilitates the trading of U.S. listed equities in the overnight hours of 8pm ET to 4am ET.

Urbana Corporation is an investment company that invests in the financial service sector, from exchanges to banks to broker-dealers and investment managers.

Urbana (URB) is up 9.77 per cent and is trading at $3.37 per share as of 3:08 pm ET.

More From The Market Herald

" MINT Income Fund (TSX:MID.UN) announces NCIB

MINT Income Fund (MID.UN) has received approval for a normal course issuer bid (NCIB).

" Stockhouse @ the Bell: Bay St. up … Wall St. down

It was almost another day in the red for Canada’s main stock index on Thursday, but weaker crude prices turned around by midday

" Brookfield Asset Management (TSX:BAM.A) renews NCIB

Brookfield Asset Management (BAM.A) has received approval from the TSX to renew its normal course issuer bid.
Tenet Fintech Group - CEO of Tenet Asia, Liang Qiu.

" Tenet Fintech (CSE:PKK) partners with China’s largest insurer

Tenet (PKK) has launched the first insurance policy exclusive to its Heartbeat platform.