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The
Temasek and Mastercard-backed company's listing could give it a
valuation of about $5.5 billion to $7 billion, according to the
report https://bloom.bg/3f4Zqhx.
Pine Labs did not immediately respond to a Reuters request for
comment.
The company's top boss told Reuters in October Pine Labs was
considering an IPO in as little as a year, but had declined to
specify whether it would be an overseas listing.
Founded in 1998 to provide retail automation solutions to
petroleum companies, Pine Labs now offers services and tools
such as inventory management and payment terminals to merchants
across Asia and the Middle East.
Goldman Sachs and Morgan Stanley are the lead bankers on the
IPO, Bloomberg News reported, adding that details such as the
size and timing could still change.
Last week, India's top lender State Bank of India made a $20
million investment in Pine Labs. Pine Labs raised $600 million
last year, valuing it at $3.5 billion.
(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by
Subhranshu Sahu and Shounak Dasgupta)
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