CAB Payments Plans London Listing

British business-to-business cross-border payments firm CAB Payments is planning to list on the London Stock Exchange.

The company, which specialises in cross-border payments and foreign exchange for firms operating in emerging markets, will seek a valuation of between £800 million and £1 billion, according to a report.

Bhairav Trivedi, CEO, CAB Payments, says: "Operating as a publicly traded company will help us to continue to pursue our strategy of delivering long-term sustainable growth all cementing our position as a payments and forex partner of choice for blue-chip customers transacting in emerging markets."

The offer is expected to comprise a secondary sell-down of existing ordinary shares by Merlin Midco and certain other existing shareholders.

The news is a boost for the LSE, which has been suffering an IPO drought, with only two listings on the main market in the first quarter.

(Source: Finextra)