Finablr, the financial-services firm created by Abu Dhabi-based Indian billionaire Bavaguthu Raghuram Shetty, confirmed it is considering an initial public offering in London. The firm intends to have a free float of 25 percent of its issued share capital. Shetty currently owns 91% of Finablr, Chief Executive Officer Promoth Manghat said on a call with reporters. Shetty set up UK-incorporated Finablr about a year ago to consolidate his financial-services brands, which include Travelex and UAE Exchange Centre LLC. The firm handled more than 150 million transactions in 2018, according to its website.

Source: Mint April 09, 2019 09:22 UTC