Australian payments company Cuscal files for $224 mln IPO

Guzman y Gomez

08/11/2024 08:12

Nov 8 (Reuters) - Australian payment services provider
Cuscal filed for an A$337 million ($224 million) initial public
offering (IPO) on Friday, which would make it the country's
largest such deal this year.
    The IPO will consist of 134.7 million shares sold at A$2.50
each, valuing Cuscal at A$479 million.
    Of the total, Cuscal will sell shares worth A$40 million,
while existing shareholders will raise A$297 million by selling
shares.
    The planned A$337 million IPO will surpass the A$335.1
million that Mexican food chain Guzman Y Gomez  GYG.AX  raised
in June, which remains Australia's largest IPO this year.
    Australian stock listings have been showing some signs of
recovery this year after 2023 recorded the lowest number of
listings in a decade.
    Sydney-based Cuscal expects to begin trading on the
Australian Securities Exchange on Nov. 25 under the ticker
'CCL'.
 
 ($1 = 1.5035 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Savio
D'Souza)
 ((Aaditya.GovindRao@thomsonreuters.com;))