Paysafe Plans Moving to LSE’s Main Market
- The online payments provider expects the London Stock Exchange to approve its application before year-end
Online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and money transfer service provider Paysafe announced that it will apply for listing on the main market of the London Stock Exchange (LSE).
Better Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, More Investors
Moving there, according to Paysafe, will enhance its profile and ensure better liquidity for its stock, attracting more investors, the company noted. As for grounds on which its application should be approved, Paysafe said its acquisition of another payments services provider, Skrill, earlier this year, provides it with a sound base for such a move.
If the bourse greenlights the move, the company’s shares will start trading on the main market on December 23 and its listing on the AIM market will be canceled as of the same date.
Paysafe said in its filing to the LSE that this move will not be accompanied by fundraising or new share issuance.
Paysafe, formerly Optimal Payments, announced its rebranding earlier this month. As Finance Magnates reported at the time, the company had been eyeing entry into the LSE’s main market for a while, putting efforts in both organic and inorganic growth initiatives, the latter including not just the buying of Skrill but also of another company, Canadian FANS Entertainment, a mobile platform developer.
Skrill's acquisition was a major step towards a listing on LSE's main market, as noted by Paysafe's Chief Executive Officer (CEO) Joel Leonoff, who said that “the acquisition of Skrill will create a global tech champion in the fast growing digital payments space, and we believe represents a transformational leap forward that greatly accelerates our strategic plan,” adding, “the combined business will be quoted in the UK and will be of sufficient scale for us to seek a main market listing and FTSE 250 inclusion as soon as possible following completion of the acquisition.”
The company's shares are most likely to be considered for inclusion into the FTSE 250 at the end of the first quarter of next year, Paysafe said.
Online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and money transfer service provider Paysafe announced that it will apply for listing on the main market of the London Stock Exchange (LSE).
Better Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, More Investors
Moving there, according to Paysafe, will enhance its profile and ensure better liquidity for its stock, attracting more investors, the company noted. As for grounds on which its application should be approved, Paysafe said its acquisition of another payments services provider, Skrill, earlier this year, provides it with a sound base for such a move.
If the bourse greenlights the move, the company’s shares will start trading on the main market on December 23 and its listing on the AIM market will be canceled as of the same date.
Paysafe said in its filing to the LSE that this move will not be accompanied by fundraising or new share issuance.
Paysafe, formerly Optimal Payments, announced its rebranding earlier this month. As Finance Magnates reported at the time, the company had been eyeing entry into the LSE’s main market for a while, putting efforts in both organic and inorganic growth initiatives, the latter including not just the buying of Skrill but also of another company, Canadian FANS Entertainment, a mobile platform developer.
Skrill's acquisition was a major step towards a listing on LSE's main market, as noted by Paysafe's Chief Executive Officer (CEO) Joel Leonoff, who said that “the acquisition of Skrill will create a global tech champion in the fast growing digital payments space, and we believe represents a transformational leap forward that greatly accelerates our strategic plan,” adding, “the combined business will be quoted in the UK and will be of sufficient scale for us to seek a main market listing and FTSE 250 inclusion as soon as possible following completion of the acquisition.”
The company's shares are most likely to be considered for inclusion into the FTSE 250 at the end of the first quarter of next year, Paysafe said.