Afterpay to raise equity for UK acquisition

Payments company Afterpay will launch a $110 million equity raising.

It is understood the company has hired brokers Citi, Bell Potter and Wilsons to manage the offer.

The deal is expected to be underwritten by Citi at a floor price of $15.75 a share, with the deal to be done via a placement.

Funds raised would be used to buy a UK payments company ClearPay’s customers and footprint, which would launch Afterpay into the UK.

It is understood Highbury Partnership advised Afterpay on the acquisition.

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Source: Afterpay to raise equity for UK acquisition | afr.com