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On the 6th July 2023, CAB Payments, the holding company for Crown Agents Bank navigated difficult market conditions to begin trading as a public company on the premium segment of the London Stock Exchange under the ticker ‘CABP’. It is a significant milestone for the business, underscoring the confidence the management team and the public markets has in our offering and product proposition, as well as our strong financial profile. It marks the start of the next phase in our growth story, backed by a broader register of shareholders who share our vision and ambition for the future.
Operating as a public company also brings with it the opportunity for us to expand our client base across the world, helping us advance our mission of connecting hard-to-reach markets to the global economy, enhancing financial inclusion and strengthening local economies.
Bhairav Trivedi, CEO of CAB Payments, commented: “CAB Payments’ successful IPO marks an important milestone for us as we embark on the next phase of our growth ambitions.”
“The great reception we have received so far from the investment community underlines our strong financial profile and a track record of delivering growth, profitability, and cash generation. We are tremendously excited to start this new chapter of our journey, as we work to connect more people in traditionally hard-to-reach regions with global payments and foreign exchange trading capabilities.
“We look forward to continuing to cement our position as a payments and forex partner of choice for blue-chip customers transacting in emerging markets.”
Ann Cairns, Non-Executive Chair of CAB Payments, said: “CAB Payments is a very exciting fintech which is transforming the way payments and FX reach frontier markets. We deliver real economic benefits to those markets – that’s why our platform is used by aid agencies and blue-chip companies alike for commercial transactions and social impact. The IPO is a very significant moment for us, and I am excited by the opportunity ahead, because at CAB Payments we all know this is only the beginning.”
Following the IPO, we will remain focused on delivering for our clients and partners, which will in turn generate long-term sustainable growth. We have a clear strategy to continue to develop and improve our products and services to grow and expand our client base. Immediate priorities for growth include further investments in our global payments network, as well as expanding its global coverage to create a 24-hour desk that can better provide trading and customer service capabilities across American and Asian timezones.
