Transact has revealed it is targeting a £650m valuation as it plans to go public.
Listing details for Transact parent IntegraFin Holdings’ IPO on the main market of the London Stock Exchange show it will be selling shares at 196p with a market capitalisation of £649.4m.
IntegraFin has confirmed its intention to go ahead with an IPO at the end of January, with shares in the company to be offered to UK institutional investors when the listing commences this Friday, 2 March.
More than 90.6 million shares, representing 27 per cent of the company’s total equity will be on sale, valuing the share offer at just over £177m.
IntegraFin chief executive Ian Taylor says: “”We have been delighted with the response IntegraFin has received from investors and welcome them to our business. We are proud to have built such a business and look forward to maintaining the high levels of service to our clients and building valuable, long-term relationships with our shareholders.”
Transact previously reported profits of £29.9m for the year to 30 September 2017.