French IT services corporation Atos is planning to float its electronics payment unit Worldline on 27 June through an initial public offering to raise nearly 610m.
The IPO will include nearly 255m of newly issued shares and 355m of existing shares at indicative offering price range for the French public offering and the international offering between 16.40 and 20.00 per share.
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The divestment is said to be part of Atos’ plans to sharpen its focus on core business operations, including cloud computing.
Worldline chief executive Gilles Grapinet was quoted by The Wall Street Journal as saying that the company would float nearly 25% to 30% through the IPO, valuing the payments firm at between 2bn and 2.4bn.
The company intends to use nearly 1bn for acquisitions in European markets.
"We’ll seek acquisitions in segments like banking processes, where scale can generate big savings fast, and look for targets in services to retailers. Overall, we’re more likely to make acquisitions in Europe," Grapinet said, according to Bloomberg.
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