Nexi prices one of Europe’s largest IPOs in 2019 at €5.7bn

By Bruno Reis

The Italian payments company, Nexi, has priced its initial public offering (IPO), valuing the company at €5.7bn (US$6.44bn).

The IPO marks one of the largest in Europe for 2019, at €9 ($10.18) per share, Reuters reported.

The company runs electronic payments for CartaSi, the credit card operator.

The price was at the firm’s lower end of the range, which has been set between €9 and €9.5 ($10.74).

SEE ALSO:

Including the business’s debt, Nexi’s total valuation has reached €7.3bn ($8.25) – this is the equivalent of 17.2 times its core earnings.

The company intends to float 35.6% of its shares on the market, which could increase to 40.9% in the event of an overallotment.

Around €2bn ($2.26bn) will be raise prior to the overallotment, which will include €684mn ($773.4mn) in fresh capital to be used to refinance the firm’s debt.

In 2015, Nexi was acquired by Bain Capital, Advent International, and Clessidra.

Share

Featured Articles

Dubai debate on Future of Cloud Security in the Middle East

Survey and roundtable on The Future of Cloud Security in the Middle East to examine cloud adoption and security readiness in the region

Saudi to rival Silicon Valley with US$9bn tech investments

Saudi Arabia announces US$9bn investments in future tech amid unprecedented growth in digital economy – Microsoft, Oracle, Huawei, Zoom all big spenders

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

Digital Strategy

PwC’s survey shows Middle East CEOs remain upbeat on growth

Leadership & Strategy

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy