Ebury Selects Goldman Sachs for £2 Billion London IPO

Santander-backed Ebury has appointed Goldman Sachs to lead its forthcoming £2 billion IPO in London.

Rumors of an IPO for the UK cross-border payments platform have been swirling since March. First reported by the FT, the appointment of Goldman Sachs solidifies the prospect of a Q1 2025 float for the firm.

Founded in 2009, Ebury serves over 50,000 clients with international payments, collections, risk management, and financing services. In 2019, Santander acquired a 50.1% majority stake in Ebury for £350 million, integrating it into the Spanish bank’s PagoNxt payments platform.

Ebury posted revenue of £204 million for the 12 months ending April 30, 2023, on a transaction volume of £26 billion, according to Companies House filings.

A listing on the London Stock Exchange will be a rare win for the UK market, which has struggled to attract tech talent compared to US venues. The FCA recently announced plans to overhaul listing rules, introducing a simplified regime to encourage more companies to list in the UK.

The last major payments firm to list in the UK was CAB Payments last year, currently trading 64% below its initial share price.

Source: https://www.ft.com/content/9ea312ff-4609-40cf-9b90-d89e5c615caf