CAB Payments makes London Stock Exchange debut with £851.4m IPO

investmentweek.co.uk:

Unconditional dealings are expected to commence on 11 July.

The company went public with a market capitalisation of £851.4m, at £3.35 per ordinary share.

The IPO comprises 87,000,000 ordinary shares with an additional 13,000,000 as part of an over-allotment option. If exercised in full, this would bring the final offer size to £335m, representing around 39.3% of the aggregate of the company's ordinary shares at the time of admission to the LSE, CAB said in a regulatory filing.

CAB Payments sets sights on £850m London IPO

The company started conditional dealings today, with the admission to the premium listing segment of the official list of the Financial Conduct Authority on the main market for listed securities of the LSE, and the beginning of unconditional dealings, expected to take place on 11 July.

CAB Payments' listings marks one of the biggest IPOs for the LSE this year, after several high-profile companies left London to list in New York.

Bhairav Trivedi, CEO of CAB Payments, said: «Today marks an important milestone for CAB Payments as we celebrate our first day of conditional dealings on the London Stock Exchange.

The CEO said deciding to list signifies its confidence in the proposition the company brings to clients and its „new, enlarged“ investor base, as well as the confidence it has in the UK as the home for „innovative and growing global fintech businesses“.

CAB Payments to list on London Stock Exchange

»The great reception we received from the investment community underlines our strong financial profile and a track record of delivering growth, profitability, and cash generation," he said. 

«We are tremendously excited to start this new chapter of our journey, as we work to connect more people in