Shares in online payments processor SafeCharge will begin trading on London’s AIM market today, having raised $125m from its initial public offering - 25 per cent more than originally intended, reports ft.com.
The company will begin trading with a market capitalisation of $400m. David Avgi, founder and chief executive, said: “The proceeds of the placing will be deployed to accelerate the company’s growth strategy both through acquisition and organic means."
In 2013, SafeCharge processed £5bn in transactions and had revenues of $43.2m with adjusted earnings (EBITDA) of $11.3m.
