The Intercontinental Exchange (ICE), an operator of clearing houses, data and listings services, as well as 12 global exchanges including the New York Stock Exchange, has sold its 1.4% stake in the Nasdaq-listed cryptocurrency exchange Coinbase.
The company sold its Coinbase stake for $1.2 billion, the current chief financial officer (CFO) Scott Hill said in an earnings call yesterday. After taxes, the sell-off resulted in approximately $900 million in gains.
ICE’s incoming CFO, Warren Gardiner, said on the call that the proceeds from the Coinbase selloff “gives us some additional flexibility as we move into the rest of the year.” ICE reported revenue of $1.8 billion, up 4% year-over-year.
The selloff helped ICE reduce its leverage—the company’s total debt divided by shareholder’s equity—to 3.6, but ICE’s target is 3.25. At 3.25, the company “can start to think about buying back stock,” Gardiner noted, without specifying whether ICE would buy Coinbase stock again.
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Źródło: https://decrypt.co/69555/intercontinental-exchange-sells-1-4-stake-in-coinbase-for-1-2-billion
