European online payments group Skrill,
formerly known as Moneybookers, has announced its intention to
float on the London Stock Exchange (LSE).

The Skrill group plans to expand its product
offerings and international presence, particularly in the
developing world.

Skrill hopes to raise £80m ($13m) through the
IPO and have enlisted investment banks Morgan Stanley, Jefferies
and Merrill Lynch to arrange the IPO with financial advisory group
Collins Stewart acting as manager of the offer.

“The IPO is an important milestone for Skrill
and will help enhance the Group’s profile and status with existing
and potential end-users and merchants as well as providing funding
to capitalise on the exciting growth opportunities the Group has
identified,” said Martin Ott, CEO of Skrill.

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