Worldpay wins backing for London's largest float this year

Discussion in 'Market News' started by Lily, Oct 7, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Payment processing group will be catapulted into FTSE 100 at valuation of about £4.5bn

    Advisers to Worldpay, the UK payments processing group chaired by Sir Mike Rake, have said they had secured enough financial support for its flotation to go ahead.

    The float, which will value the group at about £4.5bn, will be the largest this year in London and will catapult the company into the FTSE 100 where it will rank close to J Sainsbury. The group, owned by private equity firms Advent and Bain, had hoped for a valuation as high as £5.2bn but volatile markets have forced bankers on the deal to consider selling the group more cheaply.

    Related: Worldpay weighs IPO or Ingenico bid

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