Worldpay prices IPO at 240p per share

Payments processor Worldpay announced the successful pricing of its initial public offering at 240p per share, valuing the company at around £4.8bn and making it the biggest float this year.

Chief executive officer Philip Jansen said: “Today's announcement is a significant milestone for Worldpay. We are proud to be a leader in global payments with a clear strategy for continued growth as a listed company.

“We have already invested over £1bn in our technology, people and capabilities, helping us to become an advanced and sophisticated technology-led organisation with great potential.”

Worldpay, which is chaired by Sir Mike Rake, will receive approximately £947.8m of gross proceeds from the IPO.

It was at the centre of a bidding war over the summer, with German payments company Wirecard, French rival Ingenico and private equity firms Blackstone and Hellman & Friedman all in the frame.