London Daily

Focus on the big picture.
Saturday, May 31, 2025

Investment banks Cenkos and finnCap to merge in all-share deal

Investment banks Cenkos and finnCap to merge in all-share deal

A tie-up between two of the City of London's best-known investment banks catering to smaller listed companies is expected to be announced on Thursday morning.
Cenkos Securities and finnCap Group, the London-listed brokers, are in advanced talks to merge in an all-share deal that will create the City's biggest dedicated investment bank serving small-cap growth companies.

Sky News has learnt that Cenkos and finnCap are close to agreeing a tie-up.

An announcement from both companies is likely as soon as Thursday morning.

If confirmed, it will accelerate the consolidation among London's smaller broking firms during a challenging period for capital markets specialists.

Company flotations have been rare in the City in the last year because of economic and market volatility.

The merger of Cenkos and finnCap will come months after Panmure Gordon, the investment bank owned by a vehicle headed by Bob Diamond, the former Barclays chief, abandoned a bid for finnCap.

The two sides were unable to agree on a price.

City sources said on Wednesday that the deal would see finnCap acquiring Cenkos.

The two companies have virtually identical market capitalisations of £21m and £22m respectively.

Other details of the deal, including the leadership of the combined firm and which brand it would use, were unclear.

Despite their lowly valuations, the deal will be closely watched in the City by both peers and the firms' clients.

A slowdown in corporate activity has driven a hunt for enhanced cost savings among brokers, with the prospects for corporate activity this year dampened by the economic backdrop.

FinnCap has endured a difficult period, parting company with Sam Smith, its chief executive and one of relatively few female City bosses, last summer.

Other broking firms are expected to participate in industry consolidation, including WH Ireland, which is under siege from an activist shareholder.

A finnCap spokesman declined to comment, while Cenkos could not be reached.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
Labour MPs Urge Chancellor to Tax Wealthy Over Cutting Welfare
Publication of UK Child Poverty Strategy Delayed Until Autumn
France Detains UK Fishing Vessel Amid Post-Brexit Tensions
Calls Grow to Resume Syrian Asylum Claims in UK
Nigel Farage Pledges to Reinstate Winter Fuel Payments
Boris and Carrie Johnson Welcome Daughter Poppy
×