SafeCharge IPO Launches Today on LSE AIM, $125 Million Raised
- Stocks of the global payments solutions provider specializing in Forex brokers and online gambling sites are now traded on the London exchange with a valuation of about US$400 million at the placing price.
SafeCharge, the 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term solutions provider specializing in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term brokers and online gambling sites, formally launched its shares for trading today with an initial public offering (IPO) which raised new equity capital for the company to the sum of $125 million.
The SafeCharge International Group Limited, a Central Bank of Cyprus authorized payment institution with about two hundred employees worldwide, floated 149,759,260 Ordinary Shares at a placing price of 162 British pence at the London Stock Exchange Alternative Investment Market (LSE AIM) giving SafeCharge a market capitalization of approximately US$400 million at the placing price.
The valuation and the performance of the SafeCharge stock is likely to be compared from now on with that of Optimal Payments Plc (LON:OPAY) which operates the competing payment solution NETELLER and has a market capitalization of about US$600 million.
The underwriter for the IPO is Shore Capital which is acting as nominated adviser and broker to SafeCharge.
Before the IPO, the gambling software tycoon, Teddy Sagi, held 97.1% of the shares of SafeCharge founded in 2006 by its ongoing Chief Executive Officer, David Avgi, who owned the remaining 2.9%. After the IPO, JPMorgan Asset Management (UK) Ltd. owns 6.25% of SafeCharge and Henderson Global Investors owns 5% of it.
The LSE AIM listing which created a free float of about 31% diluted Mr. Sagi’s stake to 66% of SafeCharge. Mr. Sagi became a billionaire after listing the gaming company which he founded, Playtech, on the London Stock Exchange in 2006 (LSE:PTEC).
SafeCharge stated that its business strategy is to leverage its current position in the global online payments market to drive growth while capitalizing upon new opportunities, such as a digital wallet which is expected to be launched in Q4 2014 and the Group’s recently attained merchant acquirer status with MasterCard Europe. The company intends to acquire competitor payment service providers to extend the Group’s reach further into Asia-Pacific and the Americas.
Mr. Avgi, the firm's CEO, commented on today's announcement saying: "We are delighted with SafeCharge's IPO and successful admission to AIM. The substantial over demand from high quality institutional investors is a strong endorsement of our business model and investment proposition. The proceeds of the Placing will be deployed to accelerate the Company's growth strategy both through acquisition and organic means. Furthermore the Board believes that the listing on AIM will improve the Group's profile in attracting prospective clients."
Between 2010 and 2013 the total value of transactions processed by the Group on behalf of merchant clients increased from US$1.6 billion to US$4.8 billion. In the year 2013 the Group recorded turnover of US$43.2 million and adjusted EBITDA of US$11.3 million. Between 2012 and 2013 the Group’s revenue increased by 31.4 percent and adjusted EBITDA increased by 47.4 per cent.
SafeCharge received the “Most Innovative Financial Product Award” in November of last year at the Forex Magnates London Summit 2013. According to SafeCharge, it is a payment partner across a diversified, blue chip client base. The group is a supplier to merchants in the regulated European sports betting and gaming industry, retail securities derivatives and FX trading sector, as well as enjoying a presence in digital goods and services. The Group has over 500 active clients with notable examples being: Gala Coral, Rank Digital Gaming, William Hill and FXPro.
In additional to this story, Forex Magnates has learned from industry sources that Safecap (Markets.com) is also aiming for an IPO within the next twelve months from now, supposedly for a similar valuation.
SafeCharge, the 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. 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 commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term solutions provider specializing in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term brokers and online gambling sites, formally launched its shares for trading today with an initial public offering (IPO) which raised new equity capital for the company to the sum of $125 million.
The SafeCharge International Group Limited, a Central Bank of Cyprus authorized payment institution with about two hundred employees worldwide, floated 149,759,260 Ordinary Shares at a placing price of 162 British pence at the London Stock Exchange Alternative Investment Market (LSE AIM) giving SafeCharge a market capitalization of approximately US$400 million at the placing price.
The valuation and the performance of the SafeCharge stock is likely to be compared from now on with that of Optimal Payments Plc (LON:OPAY) which operates the competing payment solution NETELLER and has a market capitalization of about US$600 million.
The underwriter for the IPO is Shore Capital which is acting as nominated adviser and broker to SafeCharge.
Before the IPO, the gambling software tycoon, Teddy Sagi, held 97.1% of the shares of SafeCharge founded in 2006 by its ongoing Chief Executive Officer, David Avgi, who owned the remaining 2.9%. After the IPO, JPMorgan Asset Management (UK) Ltd. owns 6.25% of SafeCharge and Henderson Global Investors owns 5% of it.
The LSE AIM listing which created a free float of about 31% diluted Mr. Sagi’s stake to 66% of SafeCharge. Mr. Sagi became a billionaire after listing the gaming company which he founded, Playtech, on the London Stock Exchange in 2006 (LSE:PTEC).
SafeCharge stated that its business strategy is to leverage its current position in the global online payments market to drive growth while capitalizing upon new opportunities, such as a digital wallet which is expected to be launched in Q4 2014 and the Group’s recently attained merchant acquirer status with MasterCard Europe. The company intends to acquire competitor payment service providers to extend the Group’s reach further into Asia-Pacific and the Americas.
Mr. Avgi, the firm's CEO, commented on today's announcement saying: "We are delighted with SafeCharge's IPO and successful admission to AIM. The substantial over demand from high quality institutional investors is a strong endorsement of our business model and investment proposition. The proceeds of the Placing will be deployed to accelerate the Company's growth strategy both through acquisition and organic means. Furthermore the Board believes that the listing on AIM will improve the Group's profile in attracting prospective clients."
Between 2010 and 2013 the total value of transactions processed by the Group on behalf of merchant clients increased from US$1.6 billion to US$4.8 billion. In the year 2013 the Group recorded turnover of US$43.2 million and adjusted EBITDA of US$11.3 million. Between 2012 and 2013 the Group’s revenue increased by 31.4 percent and adjusted EBITDA increased by 47.4 per cent.
SafeCharge received the “Most Innovative Financial Product Award” in November of last year at the Forex Magnates London Summit 2013. According to SafeCharge, it is a payment partner across a diversified, blue chip client base. The group is a supplier to merchants in the regulated European sports betting and gaming industry, retail securities derivatives and FX trading sector, as well as enjoying a presence in digital goods and services. The Group has over 500 active clients with notable examples being: Gala Coral, Rank Digital Gaming, William Hill and FXPro.
In additional to this story, Forex Magnates has learned from industry sources that Safecap (Markets.com) is also aiming for an IPO within the next twelve months from now, supposedly for a similar valuation.