Fri, Nov 22 2024
Fintech for cross-border payments The Financial Times reports that Ebury has selected Goldman Sachs to oversee its prospective initial public offering (IPO) on the London Stock Exchange (LSE).
According to the article, the fintech company with its headquarters in London may list on the market as early as Q1 of 2019.
The initial buzz about the IPO began in March, when Bloomberg revealed that Ebury was in discussions with several banks to spearhead its launch.
FinTech Futures was informed by a fintech representative that Ebury "is considering a 2025 IPO," but the representative would not elaborate. We also reached out to Goldman Sachs for a response.
With more than 1,700 personnel and 38 locations in more than 25 countries, Ebury was founded in 2009 and provides tools and services for business lending, FX risk management, and international payments and collections.
The fintech is presently integrated into Santander's PagoNxt payments platform. In 2019, the group paid £350 million to acquire a 50.1% controlling share in the company. Later on, this share was raised to 54%.
Juan Lobato, the founder and CEO of Ebury, stated, "We have big ambitions and are exploring an IPO of the business on the back of our strong financial and commercial performance to maximize Ebury's potential," following the release of the company's most recent full-year results.
The Financial Conduct Authority (FCA) of the United Kingdom revised the nation's listing requirements earlier this month with the goal of "enabling a greater number of businesses to list their shares on a UK exchange, expanding opportunities for investors."
In an effort to expedite the listing process, the regulator unveiled new rules that created a single category and streamlined the requirements for companies wishing to go public in the UK.
The changes took effect on July 29 and included removing the need for votes for large or connected party transactions as well as increasing voting rights flexibility.
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