Worldpay floats in Biggest London IPO so far in 2015
Worldpay has been valued at GBP4.80 billion in its initial public offering, making the payments processor the biggest company to come to market in London so far in 2015.
Worldpay’s value by market capitalisation was based on an offer price of 240 pence per share. The company is to receive about GBP947.8 million from the offer.
There were 900 million shares on offer in total. Advent International and Bain Capital, the company’s private equity owners, sold 505.1 million shares, receiving GBP1.21 billion and being left with a 48.7% stake between them.
Worldpay will have 2.0 billion shares in issue and a free float of 45%.
“We are proud to be a leader in global payments with a clear strategy for continued growth as a listed company,” Chief Executive Philip Jansen said in a statement.
“We have already invested over GBP1 billion in our technology, people and capabilities, helping us to become an advanced and sophisticated technology-led organisation with great potential,” Jansen said.
Shares in Worldpay were trading 2.5% above the IPO price at 246.0 pence in conditional dealings on Tuesday morning.
Source: LSEG
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