Following the announcement by CAB Payments Holdings Limited on 15 June 2023 of its intention to proceed with an initial public offer (IPO), CAB Payments today announced the offer price for the IPO.

The price for the offer has been set at £3.35 per share, implying a market capitalisation on admission of approximately £851.4 million at the offer price.

At admission, the issued share capital of the company is expected to comprise 254,143,218 shares. The maximum number of shares comprised in the offer represents up to 99,447,347 shares. The final number of shares will be determined by way of a book build and may represent a lower number than the maximum offer size.

The Offer will include an intermediaries offer in the United Kingdom, under which the shares will be offered to intermediaries that will facilitate the participation of certain retail investors in the United Kingdom through the REX platform.

The final offer size is expected to be announced on or around 6 July 2023, with conditional dealings in the shares expected to commence on the London Stock Exchange on the same day.

Bhairav Trivedi, CEO of CAB Payments, said:

“I’m delighted to announce to the market a compelling offer price. CAB Payments has a differentiated business model with an attractive economic profile marked by profitability, cash generation and strong margins, and it benefits from structural growth drivers. We have been pleased with the investor engagement so far and are excited to continue to meet the institutional and retail investment community over the next week.”