CAB Payments Holdings Limited has declared its plans to make public a registration document and is weighing up the possibility of carrying out an Initial Public Offering (IPO).
CAB Payments plans to list its ordinary shares on the premium segment of the Financial Conduct Authority’s Official List and the London Stock Exchange’s main market. The company wants to make payments and currency exchange easier in developing nations by connecting them to global financial networks. Based in London, UK, CAB Payments is spanning over 150 countries.
CAB Payments, through its subsidiary Crown Agents Bank, has created strong relationships with its clients, seeing 96% retention among the top 100. The total customer count has risen by 14.1% in the last three years. Meanwhile, their EBITDA (earnings before interest, taxes, depreciation and amortization) has increased by 265% to £55 million in 2022, with a margin of around 50%.
Cash flow during the year increased greatly, reaching £50 million in 2022 – 92 percent of this was converted in the same period. Additionally, revenue was up by 145 percent from March 2022 to March 2023. This month was the third highest month in terms of income, thanks to increased volumes and higher rates of charge earned per transaction, plus new customers.
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