Fintech Startup Pine Labs To Seek $500 Million in U.S. IPO
- Asian digital payments firm filed confidentially with SEC
- Goldman Sachs, Morgan Stanley are lead banks on the share sale
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Pine Labs Pvt, an Asian digital payments provider backed by Sequoia India and Mastercard Inc., is moving ahead with preparations for a U.S. listing and seeks to raise about $500 million, according to people familiar with the matter.
The company has filed confidentially with the U.S. Securities and Exchange Commission for an initial public offering in New York as soon as in the first half of this year, the people said. The listing could give Pine Labs a valuation of about $5.5 billion to $7 billion, they said, asking not to be identified because the matter is private.