SumUp taps top banks for potential London IPO
Summary
Payments fintech SumUp is reportedly preparing for a long-awaited Initial Public Offering (IPO) in London, a move that could significantly benefit the UK's public markets. The company is said to be engaging Deutsche Bank, Goldman Sachs, Jefferies, and JPMorgan, with STJ Advisers acting as financial adviser, for a share sale that could value it between \$10bn and \$15bn. SumUp's preference for a London listing would counter the trend of other European scaleups, like Wise and Klarna, opting for US markets. This potential listing, alongside Revolut's consideration of a dual listing in London and New York, signals a possible shift in European fintech IPO strategies.
Key takeaway
Payments fintech SumUp is reportedly preparing for a London IPO, engaging top banks for a potential $10bn-$15bn valuation. This move signals a strategic preference for the UK market, bucking the trend of European scaleups listing in the US. It offers a rare and significant boost for London's public markets, attracting investor and industry attention.
Topics
- SumUp
- London IPO
- Fintech Payments
- Public Markets
- Investment Banks
Best for: Investor, Executive, Tech Journalist
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Editorial summary, takeaway, and curation by AIssential. Original article published by Sifted.