Cuscal Locks in Back-End Bookbuild Process Amid Investor Concerns

📆 10/30/2023 1:17 AM
📰 FinancialReview

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Cuscal,IPO,Bookbuild

Cuscal, an end-to-end payments outfit, has decided to use a back-end bookbuild process for its initial public offering (IPO) due to investor concerns about funds being locked away for several weeks. The IPO has received positive feedback from both domestic and overseas investors, but concerns about the Middle East crisis and the front-end bookbuild have been raised. The IPO price has been set at $2.50 per share, with a total offer size of $367 million and a market capitalisation of $514 million. The bookbuild will take place on November 21 and November 22, with trading expected to commence on November 24.

has locked in a back-end bookbuild process, bowing to investor concerns about having their funds locked away for several weeks amid increased market volatility, Street Talk understands.

Cuscal’s advisers Bank of America have fixed the IPO price at $2.50 per share and are positioning the company as a defensive opportunity. This equates to a $367 million offer size and a market capitalisation of $514 million.

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