BPS Technology is different to Ezidebit:
Taken from data room:
"In the IPO market, electronic payments firm Ezidebit is planning to hit ASX boards later this year, hiring Deutsche Bank and Macquarie Capital to manage a listing. The AFR reports that the Dempsey family, who own the business, will likely retain a significant stake post-listing."
"Australian provider of trading and payment platform technology, BPS Technology, has announced an initial public offering, valuing the company at around $58.5 million, as it hunts for acquisitions.
The offer is set to raise $28m for the Queensland-based firm through the issue of 28 million shares at $1 per share, representing a 2014-15 financial year price-to-earnings ratio of 9 times, and a dividend yield of 7.25 per cent.
BPS Technology runs the world's largest barter trade exchange, Bartercard, which processes more than $600m in transactions annually. Chairman Murray d’Almeida -- who founded Retail Food Group and co-founded Donut King -- said the IPO would underpin a new growth period for Bartercard as it sought to reach upwards of 160,000 cardholders in the next five years.
"This will be achieved through a combination of organic growth, particularly in the US and UK, and the acquisition of individual trade exchanges," he said.
BPS Technology also owns the cloud-based Software-as-a-Service (SaaS) platform that powers the Bartercard trade exchange business, TESS, and Bucqui, a mobile loyalty, rewards and payments application for SMEs.“Funds raised through the IPO will also facilitate the rollout of our innovative cloud-based software platform, the TESS Platform, to other trade exchanges globally," Mr d'Almeida said. BPS, which would additionally look to expand its Bucqi platform, is forecasting $51.6m in revenue and $6.5m in net profit after tax for the 2014-15 financial year.
Paterson Securities will lead manage the offer, opening on Thursday and closing on August 28, while Chardan Capital Markets will act as the US Placement Agent.
It is scheduled to begin trading on the ASX on September 4.
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