CPI Card Group and Worldpay Go Public (Oct. 13, 2015)
CPI Card Group CEO Steve Montross at the Nasdaq opening bell ceremony Friday, Oct. 9, 2015.
CPI Card Group rang the bell to open Friday trading, signifying the Littleton, Colo.-based card producer’s initial public offering. The company is trading its common stock on the Nasdaq Global Select Market (ticker symbol: PMTS) and the Toronto Stock Exchange.
“This is an exciting time for us, our shareholders, our customers and our employees, as we continue to focus on meeting the needs of our customers … and planning for the future in an innovative, dynamic and converging market place,” Diane Jackson, vice president, strategic marketing, CPI Card Group, said Friday.
CPI Card Group in August filed preliminary IPO paperwork with the SEC. The Littleton-Colo.-based company, which provides payment card production and related services, was trading on Nasdaq at $12.61 early this afternoon.
The company has been in the payments market for more than 30 years, reaching card production volume of more than 1.3 billion annually. Indirect and direct customers include JPMorgan Chase, Bank of America, American Express, InComm, Green Dot and Blackhawk Network.
In other IPO news, Worldpay was listed on the London Stock Exchange today with an IPO valuing the U.K.-based payment processor at 4.8 billion pounds ($7.4 billion)—the largest in London this year, according to reports. A handful of suitors considered buying Worldpay, but the company’s owners, private equity firms Advent International Corp. and Bain Capital, decided to take the firm public instead.
More big names in the payments industry are planning their own IPOs, including First Data and Square.
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