Worldpay to go ahead with IPO
Updated : 08:50
Payments processor Worldpay, which is owned by Bain Capital and Advent International, has decided to go ahead with a flotation, despite an offer from Ingenico.
The company said it intends to raise around £890m and its publicly traded shares are expected to be at least 25% of outstanding stock.
On Wednesday, reports had suggested that Worldpay's private equity owners had been calling on French competitor Ingenico to up its offer of around £6.6bn.
Worldpay had also attracted interest from Germany’s Wirecard and another private equity consortium led by Blackstone and Hellman & Friedman.
The listing is set to be one of the largest initial public offerings of shares in the UK since the financial crisis and a valuation above £6bn will mean the group enters the FTSE 100 with a premium listing.