London-listed investment banks Cenkos Securities and finnCap Group will merge in an all-stock deal worth 21.1 million pounds ($26 million), the companies said in a combined statement on Thursday.

Cenkos shareholders will get 3.19420647 finnCap shares in exchange for each share they hold, valuing each Cenkos share at 37.13 pence, the companies said.

Cenkos shares closed at 39 pence on Wednesday.

Shareholders of each bank will hold about 50% of the entire issued ordinary share capital of finnCap.

Both Cenkos and finnCap have similar market capitalizations, at around 21.1 million pounds and 21.05 million pounds, respectively, according to Refinitiv Eikon data. ($1 = 0.8113 pounds) (Reporting by Prerna Bedi in Bengaluru; Editing by Savio D'Souza)