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Worldpay heading towards IPO, could be worth £6bn

Worldplay has denied any rumours of its selling by deciding to list on London Stock Exchange.

The company, which processes online payments for online retailers and shops is a huge business and the initial public offering (IPO) will likely value the company at around £6 billion, UK's Business Insider wrote in a report.

Last year, Worldplay had a revenue of £863.4 million and earnings of £374.7 million.

In a statement CEO Philip Jansen says: "The IPO is an exciting and logical next step as we seek to continue this momentum. It will enable us to access new capital for growth, augment our global proposition and further enhance our ability to serve customers across the world."

Worldpay serves a diverse set of merchants across a variety of end-markets, sizes and geographies. On a typical day, it processes approximately 31 million mobile, online and in-store transactions worldwide, offering access to 326 payment methods in 126 transaction currencies across 146 countries, while supporting approximately 400,000 merchants, including large enterprises and domestic corporates and approximately 377,000 small and medium sized businesses.

The company processes some 42 per cent of all checkout sales in the UK, and works with big chains like Tesco or Asda. It has over 400,000 customers globally.

Worldpay plans to raise £890 million in its IPO and says part of this will go towards investment in technology to keep pace with the fast evolving sector.

The list of banks working on the float includes Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley, Barclays, Credit Suisse, UBS, and Lazard, Business Insider concludes.