The prepaid and financial payments company’s shares rose by 13% to reach USD26.01 – originally priced at USD23 each. It is estimated that the market value of Blackhawk – which is owned by grocery giant Safeway – would be approximately USD1.2bn.
Although the company has sold around 19% of its stake in the IPO, it is unlikely to sell any more. This is because Blackhawk needs an 80% ownership in order to retain an important tax-free spinoff option. The sale was led by Goldman Sachs, Citigroup, Deutsche Bank and Bank of America.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.