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Italian payments firm Nexi raises EUR2bn in IPO

Italian payments firm Nexi raises EUR2bn in IPO

Italian payment services firm Nexi SpA has raised EUR2.01 billion in an initial public offering, the biggest listing in Europe so far this year.

Shares were offered at EUR9 each, securing the company a EUR7.3 billion valuation, including debt. Most of the proceeds will be used to reduce debt.

The payments sector has been heating up recently, with several major IPOs and mergers and acquisitions.

Dutch outfit Adyen listed in Amsterdam last year, while Network International followed suit earlier this month.

Meanwhile, FIS has agreed to buy Worldpay for $35 billion, Fiserv has put together a $22 billion takeover of First Data and Nets, and Concardis have merged.

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