Teddy Sagi’s SafeCharge raises $126m on AIM
iGaming affiliate XLMedia upsized their IPO last week on the London Alternative Investment Market (AIM). Now it is payment clearing company SafeCharge’s turn. SafeCharge has become one of Europe’s leading clearing companies, with a focus, for now at least, on the gaming industry as well as online trading companies within the FX space. Israeli business paper Globes has the results of SafeCharge’s IPO in. They are reporting the following:
SafeCharge’s IPO did not include an offer for sale by shareholders. The company raised a gross £75.8 million ($126 million) at a company value of £242.6 million ($404 million), after money. The company had planned to raise $100 million, but exploited the stock market rally and the AIM’s comeback to raise 25% more, albeit at the same company value.
SafeCharge is fairly well known across each of the Forex, Binary Options, and online gaming universes as a leading provider of payment processing and payment related risk management solutions. Many retail forex brokers use SafeCharge to make sure their clients can deposit (and withdraw) money quickly and safely, and is an indispensable part of the conversion process. It is very smart timing to go public, especially right after XLMedia’s successful IPO. Buzz is positive and the company has the numbers to back it up. SafeCharge has revenues projected to almost double from 2012-2014.
There appears to be massive room for growth and opportunity with mobile payments becoming more prevalent and the Chinese market opening up. Trading in SafeCharge’s share (AIM: SAFE) will begin on Wednesday, April 2, at a starting price of £1.62. The underwriters are Nomad as the financial adviser and Shore Capital & Corporate Ltd.
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