Several Israeli media are reporting that one of the well- known payment services providers in the forex industry has gone public. However, after some detailed research Forex Magnates’ reporters can confirm that the event has not happened yet. The London Stock Exchange’s Alternative Investments Market (LSE AIM) has released the company’s intention to raise capital prior to admission, which outlines that it is placing 149,759,260 ordinary shares of US$0.0001 each at a placing price of 162 pence.
The total amount of capital that the company aims to raise is $126 million (£75.75 million) and the anticipated market cap totals $403 million (£242.61 million). 30.9% of the company will be floated with stated interest from Henderson Global Investors and JPMorgan Asset Management Ltd coming to 5% and 6.25% of the total value respectively.
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Even after the IPO, the main shareholder of the company with 66.77% will remain Northenstar Investment Ltd, which is a company wholly owned by Goodfidelity Trust, whose sole beneficiary is Teddy Sagi. The company is expected to be admitted to the LSE AIM on the 2nd of April. Our reporters will keep a close eye on the story and provide our readers with the full details once the IPO is finalised.