The owner of currency exchange Travelex is mulling a stock market flotation in London as it looks to raise 200 million US dollars (£152.9 million). The owner of currency exchange Travelex is mulling a stock market flotation in London as it looks to raise 200 million US dollars (£152.9 million). United Arab Emirates-based Finablr, which specialises in payments and currency exchange, said that if it pursues an initial public offering (IPO), the proceeds will be used to finance further expansion and reduce debt. Last year it processed more than 150 million transactions valued at 114.5 billion US dollars (£87.5 billion) in volume terms. Chief executive Promoth Manghat said: “Our key differentiator is operating right across the global payments value chain, supported by agile and scalable technology.

Source: Irish Independent April 09, 2019 10:07 UTC