CAB Payments, a Fintech company providing cross-border payments and FX services, has announced its intention to list in London.
The move is described as ‘another boost for London’ after a period of depressed activity for London’s investment bankers.
CAB Payments will be valued in the region of £1 billion.
“CAB Payments’ intention to float is another boost for London after confidence in the capital took a knock after several high-profile companies appeared to shun the city for a New York listing,” said Susannah Streeter, head of money and markets, Hargreaves Lansdown.
“The global payments provider executes and manages transfers across 143 currencies and markets and its decision to launch an IPO in London will help add shine to the capital’s reputation as a fintech hub.”
CAB Payments follows We Soda in deciding on London as the destination for their IPO.
Commenting on their intention to float in London, Bhairav Trivedi, Chief Executive Officer of CAB Payments, said he has confidence in London as the home for innovative growth business.
“Our intention to list on the London Stock Exchange is a sign of confidence in the high quality offering we provide to our customers in a large and growing market; confidence in our strong financial profile backed by a track record of revenue and Adjusted EBITDA growth, as well as cash generation; and confidence in the UK as the home for innovative and growing global businesses.”