Ebury, the cross-border payments group majority owned by Spanish lender Santander, has appointed Goldman Sachs to work on its upcoming initial public offering on the London Stock Exchange, according to a Financial Times report.
News emerged of Ebury’s planned £2 billion float back in March, with a debut planned sometime in 2025.
The potential listing represents another bright spot for the Square Mile, which has seen a dearth of decent listing in recent years.
CAB Payments, another cross-border payment company, was one of the few companies to debut on the London Stock Exchange in 2023 in an underwhelming float that preceded the resignation of its chief executive earlier this year.
Yet there are signs of recovery emerging in the City, with French media group Vivendi today announcing plans to float its Canal+ television business on the London Stock Exchange.
A string of IPOs from the likes of Raspberry Pi (LSE:RPI), Air Astana (LSE:AIRA) and European Green Transition PLC (AIM:EGT) generated a buzz in the first half of 2024, while Shein Group’s blockbuster IPO is on the horizon despite garnering criticism from campaign groups.
Starling Bank has said it is “very committed” to listing its shares in London, while there are also rumblings of Revolut, one of Britain’s most valuable private companies, eyeing an IPO in the near future.
Santander took a 50.1% stake in Ebury in November 2019 through a £350 million strategic investment to support Ebury’s expansion into Latin America and Asia.