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Eurowag files $ 236 million IPO in London




Payment and mobility platform Eurowag plans an initial public offering (IPO) of 200 million euros ($ 236 million) on the London Stock Exchange, according to reports.

Eurowag, a provider of commercial fleet management services, foresees a free float of at least 25% of issued share capital and expects to be eligible for the FTSE UK index series.

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Founder and CEO of majority owners Martin Vohnka and American private equity group TA Associates will reduce some of their stakes in the IPO, in addition to the new shares issued.

The company provides fuel cards, fleet cards, toll management, electric vehicle governance and other services to companies in the transportation sector. Founded in 1995 by Vohnka, Eurowag is headquartered in Prague, Czech Republic and has 18 offices across Europe, including one in Dublin.

See: FinTech Wise Plans Direct listing on the London Stock Exchange

Last year Eurowag saw its EBIDTA increase 22% year-on-year to 57 million euros ($ 66 million), according to company Press release in May. In 2020, net income for the year reached 125.5 million euros ($ 143 million).

Its fuel cards operate at 15,500 stations in 30 countries and with toll operators in 23 countries. Eurowag also operates over 15,000 points of sale and serves a portfolio of over 100,000 trucks.

The company has grown almost four times its size since 2015 and currently employs over 1,000 workers. The valuation of Eurowags could reach 2 billion euros (2.35 billion dollars), according to the media.

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In the first six months of 2021, some $ 262 billion was raised on the London Stock Exchange through more than 400 bond issues, PYMNTS reported. Also in the first half of this year, 100 UK tech companies became unicorns. The artificial intelligence company Tractable was the 100th unicorn.



On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.




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