London - The private-equity owners of Worldpay Group decided to pursue an initial public offering for the UK payments processor to raise about 890 million pounds ($1.4 billion), rebuffing a bid by Ingenico Group of France.
Worldpay plans to list its shares on the London stock exchange, the company said in a regulatory statement Friday. The company’s publicly traded shares are expected to be at least 25 percent of outstanding stock.
Ingenico shares jumped 13 percent in Paris.
Private-equity bidders including Blackstone Group and Hellman & Friedman as well as German payments processor Wirecard AG were among those competing to acquire the London-based company, people familiar with the matter said in August.
Advent and Bain Capital bought Worldpay from Royal Bank of Scotland in 2010 for 1.7 billion pounds.
The company, which processes in-store, mobile and online payment transactions, reported earnings before interest, taxes, depreciation and amortisation of 375 million pounds last year, on revenue of 3.6 billion pounds, according to its website.
BLOOMBERG