A Monday Reuters report indicated that Ebury’s chief executive officer, Juan Lobato, said the company plans to launch an initial public offering (IPO) in 2025. To chase this ambitious goal, the payments provider appointed investment experts Perella Weinberg Partners.
Ebury announces plans to launch IPO in 2025
Santander (SAN.MC) owns the majority stake in Ebury. At a funding drive last year, it increased this control to 67%. Presently, Ebury, a UK-based firm, is valued at £900m.
Ebury specialises in payments, cash management, and business-based trade finances. Lobato further said the company’s latest financial results, which will be published soon, reflect spiked growth.
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In October, this company indicated its intentions to go public and list on the London Stock Exchange (LSE) within the next two or three years. At that time, Ebury did not indicate who would manage its IPO. Indications are that Ebury may seek a capital raising before going public.
Juan Lobato Source: LinkedIn
Santander and Perella Weinberg Partners have not commented as yet. In a statement emailed to Reuters, Lobato wrote:
[An] IPO is what we are going to do and it is what we always wanted to do; this is well defined and reflected in our shareholding agreement. Perella is working with us to position Ebury for IPO, and [its] mandate does not reflect any sale of shares by existing shareholders.
After the COVID-19 pandemic, it seems investors are hesitant to invest in the payments sector as the global funding of fintech enterprises experienced a decline. The coronavirus gave these companies a significant value boost, during which the European Union’s electronic payments grew to €240tn (£280tn).
