BNPL firm Laybuy reportedly on the lookout for new buyer to potentially go private
New Zealand-headquartered buy now, pay later (BNPL) firm Laybuy is reportedly on the lookout for a new buyer to take it into private ownership, according to City AM.
Laybuy reportedly seeking buyer to go private
Sources tell City AM that the firm is seeking a private buyer that will see it delist from New Zealand’s growth business-specific stock exchange Catalist.
Launched in May 2017, the firm currently serves “over 750,000 active customers” across Australia, the UK and its native market of New Zealand.
Laybuy had previously been listed on the neighbouring Australian Stock Exchange (ASX) and successfully bagged A$80 million (around $51 million) through its IPO in August 2020 at a valuation of A$358 million (around $230 million).
Yet despite its early success, its share price fell from highs of more than A$2 to A$0.03 by 2023, when the fintech ultimately decided to delist from the exchange on 24 March 2023, instead allowing shareholders to trade their shares through the Catalist marketplace.
However, with this latest report, it now seems that the firm may be looking to end its time on the public markets completely.
At present, Laybuy is sporting a total value of around $5.4 million on the Catalist exchange, and counts a total of 5,427 shareholders.
Laybuy has not returned FinTech Futures‘ request for comment at the time of publication.
