Skrill appoints Wigley ahead of potential IPO

ONLINE payments provider Skrill has appointed Yell chairman Bob Wigley as its non-executive chairman ahead of an anticipated stock market listing later this spring.

Wigley, the former chairman of Merrill Lynch until it was taken over by Bank of America in 2009, will help to oversee the development of the business.

Skrill, which operates the Moneybookers brand, is said to be considering an initial public offering (IPO) as one of its options to raise cash and further grow its business.

A float could raise as much as €200m (£171.6m) for the firm, giving it a market capitalisation of between €400m and €500m.

The e-wallet provider has seen strong growth since it established in 2001, with profits rising at 62 per cent annually.