Travelex owner eyes possible London IPO

The owner of currency exchange Travelex is mulling a stock market flotation in London as it looks to raise $200 million (£152.9m).

United Arab Emiratesbased Finablr, which specialises in payments and currency exchange, said that if it pursues an initial public offering (IPO), the proceeds will be used to finance further expansion and reduce debt.

BR Shetty, co-founder and chairman, said: “We have tremendous opportunities ahead of us and we are well placed to capture these through the significant investments we have made in building capabilities and the strong management team we have put in place. I am very excited about what we have built.”