British business-to-business cross-border payments firm CAB Payments is planning to list on the London Stock Exchange.
The company, which specializes in cross-border payments and foreign exchange for firms operating in emerging markets, aims for a valuation between £800 million and £1 billion, as reported by the FT.
Bhairav Trivedi, CEO of CAB Payments, stated, “Operating as a publicly traded company will help us to continue to pursue our strategy of delivering long-term sustainable growth, solidifying our position as a payments and forex partner of choice for blue-chip customers transacting in emerging markets.”
The offering is expected to involve a secondary sell-down of existing ordinary shares by Merlin Midco and certain other shareholders, with no primary component included.
This development represents a positive sign for the London Stock Exchange, which has experienced a slowdown in initial public offerings, seeing only two listings on the main market in the first quarter.