CCL - Cuscal Limited

[System]

Cuscal Limited (Cuscal) is an authorised deposit-taking institution (ADI), with the licences, connectivity and processing capability to support all payment types and regulated data services. The combination of these capabilities and credentials within a single organisation in Australia is limited to the four major Australian banks and Cuscal.

Cuscal provides payment services to banks, financial technology companies and corporates, enabling its clients to provide payment services to their customers. As a B2B provider, Cuscal operates in the infrastructure layer of the Australian payments market, connecting clients to local payments infrastructure.

Cuscal's business model includes the provision of three core payments capabilities including issuing, acquiring and payments. Cuscal is building capabilities in the emerging regulated data services industry and, while in its early days, it is anticipated that this may provide additional opportunities for growth as regulated data services become increasingly integrated with payments in Australia.

It is anticipated that CCL will list on the ASX during November 2024.

Front page

Cuscal is a payments & regulated data services provider in Australia. Since 1966 we have enabled banks, corporates and fintechs to better serve and connect with their customers.

www.cuscal.com

 

[Dona Ferentes]

Listing date	25 November 2024 #
Contact details	https://www.cuscal.com/ Ph: +61 2 8299 9000
Principal Activities	Provision of business-to-business infrastructure payments and regulated data services/capabilities
Issue Price	AUD 2.50
Issue Type	Ordinary Fully Paid Shares
Security code	CCL
Capital to be Raised	$336,800,000
Expected offer close date	20 November 2024
Underwriter	Not underwritten. Merrill Lynch Equities (Australia) Limited, Bell Potter Securities Limited, Ord Minnett Limited, MST Financial Services Pty Ltd (Joint Lead Managers)

 

[Craton]

So who are the IPO brokers (my bolds)?

The Offer comprises:

• The Retail Offer, consisting of the:
  • Broker Firm Offer, which is open only to Australian and New Zealand resident investors who are not Institutional Investors and who have received an invitation from their Broker to participate;
  • Employee and Director Priority Offer, which is open to Eligible Employees and Directors in Australia who may each apply for a guaranteed minimum allocation of $5,000 worth of Shares; and
• The Institutional Offer, which consists of an invitation to bid for Shares made to Institutional Investors in Australia, New Zealand and a number of other eligible jurisdictions.

The Institutional Offer includes a cornerstone process which was commenced prior to the Prospectus Date. It is expected that certain Institutional Investors will make a commitment to acquire Shares under the Institutional Offer prior to the Institutional Offer bookbuild.

No general public offer of Shares will be made under the Offer.

 

[divs4ever]

So who are the IPO brokers (my bolds)?

Bell Potter seems to be one

( i hold BFG and am a Bell Direct customer so got an eyeful of an ad this morning before logging in )

haven't seen enough to lure me to research deeper , sorry

 

[Craton]

Bell Potter seems to be one

( i hold BFG and am a Bell Direct customer so got an eyeful of an ad this morning before logging in )

haven't seen enough to lure me to research deeper , sorry

Cheers for that @divs4ever
Couldn't find any reference to the IPO on Commsec. Via our contract partners we do service work on Cuscal equip. hence my interest.

 

[divs4ever]

go to the Bell Direct log in page

Online Share Trading Platform | Online Stock Broker Australia | Bell Direct | Bell Direct

Bell Direct is Australia's leading online share trading platform. Access the Aussie share market, trading ideas and real broker research.

www.belldirect.com.au

and one of the slideshow ads will be the link you need

IPO Special Offer Bell Direct

www.belldirect.com.au

cheers

 

[Dona Ferentes]

Cuscal’s bookbuild was covered at a fixed price of $2.50 a share on Friday morning – or 13.1 times the forecast financial year 2025 earnings. Sources said cornerstone commitments had increased to about $170 million, representing 51 per cent of the offering.

Fund managers have until the close at 5 pm on Thursday, 21 November, after which brokers will finalise allocations. Cuscal and its joint lead managers reserve the right to close the book earlier.