Payment service provider SafeCharge is planning an IPO at the London Stock Exchange.
SafeCharge, a firm specializing in high risk industries such as gaming and FX trading, is authorized by the central bank of Cyprus as a payment institution. The firm plans on raising $100 million in new equity as a result of the IPO to focus on more acquisitions, Asian expansion, and to launch a new digital wallet.
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SafeCharge has processed over $5 billion throughout 2013 with a revenue stream of $43.1 million. The firm has seen an increase of 31.4% in acitivity compared to 2012, and its adjusted earnings before interest, taxes, depreciation, and amortization are $18.1 million.
As a result of the listing, SafeCharge’s market value is estimated at %370 million.
Recently SafeCharge received the “Most Innovative Financial Product Award” in November of last year, at the Forex Magnates London Summit 2013.