NeoNet, the Swedish agency broker, has signed a letter of intent to buy Lexit, its electronic rival in the US, after announcing on Monday that it would offer trading on the New York Stock Exchange (NYSE).

NeoNet, which offers trading on the largest European exchanges and Nasdaq, will purchase Lexit with cash and NeoNet shares. It will ask its shareholders to authorise the new share issue at an extraordinary meeting on July 15. Hjalmarsson & Gunterberg Corporate Finance is NeoNet's financial adviser on the deal. Lexit is being advised by Eagle One Capital.