String of banks appointed as Travelex-owner Finablr weighs London float

Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers.

The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO.

It is looking at a premium listing on the main market of the London Stock Exchange.

Finablr is a holding company for UAE Exchange, Travelex and Xpress Money.

Indian businessman Bavaguthu Shetty, co-chair of Finablr, bought 51 per cent of UK payments company Travelex in 2015.

Shetty, said: “We have tremendous opportunities ahead of us and we are well placed to capture these, through the significant investments we have made in building capabilities and the strong management team we have put in place. I am very excited about what we have built and this is the right time to consider the future growth of Finablr and whether the business would benefit from becoming a listed company.”

Finablr has engaged Barclays Bank, Goldman Sachs, JP Morgan Securities to act as joint global co-ordinators and joint bookrunners and EFG-Hermes, Merrill Lynch and Numis Securities to act as joint bookrunner if the deal goes ahead.

Evercore Partners is acting as financial adviser to the company.

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