Cuscal, which connects non-major banks to the payments system, is eyeing a run at the ASX and could list by the end of the year if there is sufficient investor demand after reporting a near-quarter rise in its earnings over the past 12 months.Craig Kennedy, Cuscal’s chief executive, says he wants a float to set the company up for long-term success, not quick profit.
“We will be recommencing a process towards a potential IPO with a view to achieving this before the end of 2024,” the company said in its results. “We have consistent, moderate growth,” Mr Kennedy said. “We are not promoting hocky stick , or that we will burst out of the barriers. At a time of volatility, 66 per cent of our revenue is under long-term contracts, and we have never lost a top 20 client.”For investors trying to wrap their head around valuation, there is no direct comparison globally, although some analysts have compared it to Nasdaq-listed payments processing group Jack Henry.
“It is not like we are owned by two or three private equity houses, looking to maximise the share price at a liquidity event,” Mr Kennedy said. Rather, any IPO would be “the acknowledgement from existing shareholders that if we want to grow, and have ongoing access to capital, we need liquidity”.
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: FinancialReview - 🏆 2. / 90 Leer más »