Australia’s Tyro Payments gears up to list at $1b valuation

FILE PHOTO: A visitor takes a photograph of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia March 6, 2017. REUTERS/Steven Saphore

Australia’s Tyro Payments is preparing to list in December and is seeking a valuation of more than A$1.5 billion ($1 billion), two people said, braving negative market sentiment following six initial public offering (IPO) cancellations this month.

The firm, which sells EFTPOS machines and payment services via a digital apps to businesses, plans to file a prospectus in mid-November and sell shares worth about A$250 million as part of the listing process in mid-December, one of the people said.

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