3 Min Read
STOCKHOLM (Reuters) - Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange, the latest in a line of major European tech unicorns seeking a stock market listing.
The deal could see the company valued at around 9 billion euros ($10.70 billion), based on the middle of a range of analyst views on the company seen by Reuters and confirming a Reuters report here from earlier this year.
That would be around 60 times Trustly’s expected core 2022 earnings, a discount to peer Adyen which trades at 72.5 times but a premium to Nuvei, which trades at 30.5 times.
2 Min Read
STOCKHOLM (Reuters) - Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange.
In January, Reuters reported here that Trustly s owner, buyout group Nordic Capital, was in the process of hiring more banks with a view to launching an IPO in late April or early May that could value the firm at up to 9 billion euros ($10.70 billion).
“We are going to raise 8 billion Swedish crowns primary proceeds that we will use to pay off existing debt facilities, and then we want to have a net cash positive balance sheet,” Chief Executive Officer Oscar Berglund told Reuters.
(Adds details, comments from CEO interview)
STOCKHOLM, March 16 (Reuters) - Swedish payments firm Trustly on Tuesday reported a 42% growth in revenue in 2020, helped by a surge in digital transactions during the pandemic.
The company is planning a second-quarter flotation that could value it at up to 9 billion euros ($11 billion), people close to the matter had earlier told Reuters.
Net revenue for the year rose here to 1.97 billion Swedish crowns ($231.85 million) while processed transaction volumes rose 43% to 190.1 billion.
Founded in 2008 and majority owned by Nordic Capital, Trustly counts PayPal, TransferWise and Facebook among its customers. Trustly allows customers to pay for purchases directly through their bank accounts, bypassing the need for a debit card or a mobile wallet..