Finance Breaking news Trustly seeks €9 billion valuation on IPO last financial news
Breaking-Finance.Com - Swedish payment firm Trustly has confirmed plans for an IPO that could value the company at up to €9 billion.
Breaking-Finance.Com - Swedish payment firm Trustly has confirmed plans for an IPO that could value the company at up to €9 billion. Chief executive Oscar Berglund says the company will sell shares worth €785 million, part of which will be used to redeem preference shares and repay debt.The firm's plans for a second-quarter IPO were first aired in January, with the hiring of Goldman Sachs, JP Morgan and Carnegie to lay the groundwork. Like other payments processors in Europe, Trustly is riding a wave of investor interest as the Coronavirus pandemic pushes more transactions online.
. The firm's revenues were around €130 million in 2019 and are on course to hit €200 million for 2020.Nordic Capital bought a 70% stake in the company in 2018 at a valuation of roughly €700 million and merged it with US-based PayWithMyBank in 2019.The firm's most recent financing round, led by BlackRock in June, commanded a price tag of about €2 billion.
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