Pay.com.au postpones IPO plans as Iran war spooks investors
Despite the IPO pause, Pay.com.au conducted a $20 million private placement, which a spokesperson said valued the business at $750 million.
Share market volatility caused by war in the Middle East has convinced B2B fintech Pay.com.au to pause its IPO plans and opt for a $20 million raise on the private market.
As first reported by The Australian, Pay.com.au, which was broadly tipped to pursue an ASX listing this month, blamed geopolitical uncertainty for the decision.
In a term sheet sent to investors, the former Smart50 winner reportedly said its directors determined an IPO in the “immediate” future is “not in the best interests of shareholders”.
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