Suitors circling HotCopper and Canadian sister-site Stockhouse

HotCopper and its Canadian equivalent investor platform Stockhouse are owned by Gumtree Australia Markets (ASX:GUM), which today confirmed it had been approached by several parties interested in the capital markets businesses.

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“The board is considering these unsolicited approaches and will keep the market updated in accordance with its continuous disclosure obligations should material terms be finalised,” CEO Tommy Logtenberg said.

“The company has not made any decision on the capital markets business and there is no certainty that any transaction will result, or if so on what terms, following these approaches.”

According to independent Similarweb data in January, HotCopper has 7.5 million visitors monthly, with more visitors returning more often – and for longer – than competitors including Market Index, Stockhead, Proactive Investors, and Livewire Markets.

GUM last traded at 9cps at midday on Friday.

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