It has been a tough year for initial public offerings in London. We look forward to pursuing our strategy of delivering long-term sustainable growth and cementing our position as a payments and forex partner of choice for blue-chip customers transacting in emerging markets, ultimately supporting our mission to connect more people in traditionally hard-to-reach regions with global financial infrastructure, enhancing financial inclusion and strengthening local economies," Chief Executive Bhairav Trivedi said. "Today marks the start of the next exciting chapter in the company's history and we are delighted that CAB Payments has begun trading as a public company on the London Stock Exchange. There is the option for an over-allotment worth GBP50.0 million, which will see its principal shareholder, Helios Funds, sell some of its shares. The FTSE 250 Index, which houses firms of a similar size to CAB, fell 2.6%, with markets roiled by interest rate worries.ĬAB has a market capitalisation of GBP770.1 million, down from GBP851.4 million on admission.ĬAB raised GBP333.1 million from its float. Shares in CAB, which provides cross-border payments and foreign exchange services, closed at 303.00 pence on Thursday, down 9.6% from its 335p initial public offering price.
(Alliance News) - CAB Payments Holdings PLC suffered a tough start to life on the London Stock Exchange on Thursday, with shares falling during a tricky day for equities.
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