Selfwealth delists as merger and acquisition plans move forward in the financial industry.

Selfwealth recently finalized its delisting from the ASX, a development that signals the progress of Svava’s acquisition strategy as it moves forward with a scheme of arrangement. According to an official ASX statement, Selfwealth was officially removed from the official list at the conclusion of trading on the 8th of May in 2025.

The day before this delisting, Selfwealth confirmed the execution of the scheme of arrangement that would result in Svava, owned by the Syfe Group, acquiring Selfwealth, marking a significant milestone for the trading platform. Shareholders of Selfwealth, excluding Syfe, were compensated with $0.28 in cash for each Selfwealth share they held as of the scheme’s record date.

Leading up to this significant development, Selfwealth had previously disclosed in late April that the Federal Court had issued orders endorsing the scheme of arrangement and had filed the orders with ASIC in accordance with the Corporations Act. Established in 2013, Selfwealth offers online equity trading services and a platform for financial advisers to manage client portfolios and self-managed superannuation fund (SMSF) investments.

Earlier this year, Selfwealth announced its intention to be acquired by Svava through a scheme of arrangement at $0.28 per share after refusing a prior offer of $0.25 per share from Bell Financial Group (BFG). The unexpected turn of events ensued after Selfwealth had initially engaged in a scheme of arrangement with BFG, only for Svava to sweeten its offer, prompting BFG to decline to make a competing proposal.

At a pivotal scheme meeting on the 22nd of April, a resounding 88% of shareholders voiced their approval of the deal. During the meeting, Selfwealth underscored the critical nature of increasing its scale in the online equity trading sector, citing the challenges it would face in achieving profitability and expanding as an independent entity without the support of the scheme.

Selfwealth noted the importance of scale in the competitive online equity trading arena, highlighting its relatively modest capital base and customer reach. The platform emphasized the uncertainties surrounding its ability to grow independently or sustain profitability if the scheme did not progress, underscoring the risks shareholders would face if the scheme failed to materialize.