Payments processing company Worldpay’s IPO is drawing near, after the company narrowed its IPO price range to 235-250p in what will be the UK’s biggest float in two years.
The company, owned by Advent International and Bain Capital, recently confirmed plans to raise £890m through a float on the London Stock Exchange in October.
The news followed reports suggesting Worldpay was considering opting for a buyout bid rather than listing, but chief executive Philip Jansen confirmed that the IPO was an “exciting and logical next step”:
It will enable us to access new capital for growth, augment our global proposition and further enhance our ability to serve customers across the world.
Worldpay, sold by RBS five years ago, has been growing rapidly to handle over 31m payments daily, and aims to sell nearly £1.7 bn of shares.
This will be London's largest float since Royal Mail listed two years ago, and the biggest ever IPO of a private equity company in the UK.