Wilsons, Bell Potter in market for hot fintech Afterpay

Payments company Afterpay is seeking to raise $30 million in a placement through Bell Potter Securities and Wilsons on Monday.

Afterpay shares went into a trading halt on Monday morning as its brokers started drumming up interest from potential backers.

The brokers were seeking to raise $30 million at $2.40 a share.

The offer was priced at a 5.9 per cent discount to the last close of $2.55.

Afterpay is seeking the equity injection to fund growth, with the payments company experiencing a strong number of retail merchants seeking its online payments technology.

Bids were due at 4pm on Monday, according to terms sent to fund managers.

Afterpay has traded strongly since listing at $1 a share in May.

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Source: Wilsons, Bell Potter in market for hot fintech Afterpay | afr.com