Finablr is present across the entire payments and foreign exchange value chain from origination to processing to last-mile distribution.
Monday 20, May 2019 BY KUDAKWASHE MUZORIWA
Abu Dhabi-based Finablr has listed its shares on the premium segment of the main market of the London Stock Exchange (LSE).
Promoth Manghat, the Group Chief Executive Officer of Finablr, said, “We are delighted that Finablr has joined the London Stock Exchange’s premium market, providing a new platform to grow over the coming years.”
The payment and foreign exchange processing firm slashed the price for its initial public offering (IPO) after struggling to find investors for its LSE sale. The new price implies a market value of GBP 1.23 billion ($1.6 billion) versus an initial indicated value of as much as GBP 1.8 billion.
The holding company’s brands include the UAE Exchange, Travelex as well as Xpress Money, Unimoni, Remit2India and Ditto.