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SIA calls in JP Morgan for possible IPO

SIA calls in JP Morgan for possible IPO

Italian payments giant SIA has hired JP Morgan as financial advisor for all 'extraordinary transactions' - including a possible IPO.

The firm, which is controlled by state lender CDP Equity, confirmed last month that it was beginning the listing process.

It said then that it could issue ordinary shares on the Mercato Telematico Azionario market by the summer, although a merger with another payments player was not ruled out.

Reporting its 2019 results, SIA says consolidated revenues rose 19.3% to EUR733.2 million, with gross operating margin (Ebitda) up 28.1% to EUR257.9 million.

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