Informed sources said that the UAE-based Finapler, an exchange and payment solutions company, is launching its initial public offering in London on Tuesday, in a deal that may be collected from it. About $ 500 million.

According to Reuters, this plan comes after the initial public offering of its competitor, Network International, attracted strong demand from investors in a possible deal that the company might value at $ 3 billion.

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The sources said that Vinabler, a holding company of companies including the UAE Exchange, Travelex Holding and Express Money, plans to sell between 25 and 30% of its shares, including what may It generates about 500 million dollars.

The company said it intends to use net proceeds to finance expansion plans and reduce net net debt.

GB Morgan, Barclays and Goldman Sachs are the global coordinators of the deal.

The Venabler network has a global reach that extends to more than 160 countries, and it manages close to $ 100 billion in size to its customers, according to its website.

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Abu Dhabi market investors increased 41.6% during the first quarter