Worldpay set for October IPO

Worldpay is a payment processing company that uses card machines, telephone and online payments. The company has now revealed that it is planning a public offering.

Worldpay was one of the first internet payment providers in the world when it launched its first ‘online shop’ in the UK in 1994. Today it has more than 400,000 customers and processes approximately 31 million transactions, in 126 different currencies across 146 countries, per day.

The company is geared for growth and its 2015 half-year figures revealed revenue up 13% to £1.9bn and underlying cash profits up 13% to £182m.

Worldpay has now decided to launch an IPO and is seeking to raise £890m to give it a free float of at least 25%. It will be London's largest IPO this year and a rough valuation band has been set between £4.5 billion - £5.2 billion. The float is planned for October, but no exact date has been set.

Worldpay set for October IPO

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