CAB Payments Holdings, the company focused on B2B cross-border payments and FX, announced Thursday that it intends to pursue a London stock market listing.
The company, which specialises in emerging markets, said if it proceeds with the listing, it will apply for admission of its ordinary shares to the London Stock Exchange‘s main market.
CAB wants to broaden its ownership and accelerate its growth trajectory, where it is pursuing a strategy of delivering long-term sustainable growth. In addition, CAB said it wants to cement its “position as a payments and forex partner of choice for blue-chip customers transacting in emerging markets.”
Bhairav Trivedi, Chief Executive Officer of CAB Payments, commented:
Our intention to list on the London Stock Exchange is a sign of confidence in the high quality offering we provide to our customers in a large and growing market; confidence in our strong financial profile backed by a track record of revenue and Adjusted EBITDA growth, as well as cash generation; and confidence in the UK as the home for innovative and growing global businesses.”
In 2022, CAB’s total income came in at £109,435, up 104.6% compared to 2021. Meanwhile, in the first quarter of 2023, ended March 31, the company said revenue was £41.3 million, driven by higher volume, increased average take rates, and new customer wins made in 2022.
“Revenues are 145 per cent higher than in the same period last year, with March 2023 monthly results being the 3rd highest month on record,” the company said.
