Finablr, a UAE based payments company founded by Indian billionaire Bavaguthu Raghuram Shetty has confirmed its plans to proceed with an Initial Public Offer on the London Stock Exchange which could raise over £153m.
The company's other brands include UAE Exchange, Travelex Holdings and Xpress Money but it plans to sell at least 25% of its equity. The company is expected to be listed in May while the sale prospectus is expected to be published by May 1.
The move follows Middle East payments firm Network International listing in London last week, while Italian payments firm Nexi is due to debut in Milan this week with a valuation of 5.7 billion euros ($6.4 billion).