Worldpay valued at £4.8bn in fintech IPO
British payments processor Worldpay Group Ltd has priced its listing on the London Stock Exchange (LSE) at 240 pence per share, valuing the business at £4.8bn (€6.4bn).
Worldpay's private-equity owners Advent International and Bain Capital had narrowed the price range for the initial public offering (IPO) to between 235 pence and 250 pence from 225 pence to 260 pence, Reuters reported last week.
A bookrunner for the deal said earlier this month that Worldpay was seeking a valuation of between £4.5bn and £5.2bn.
The IPO is the biggest on London's main market this year. Worldpay earlier this year rejected an offer of up to £6.6bn, including debt, from French rival Ingenico Group SA (INGC.PA), a source said at that time.
"We have already invested over £1bn in our technology, people and capabilities, helping us to become an advanced and sophisticated technology-led organisation with great potential," ceo Philip Jansen said.