Prosus, Visa, and Prudential Financial scored exits as Remitly went public, with Prudential divesting $32.5m of shares through the offering.
Remitly, a US-based remittance services provider backed by payment services firm Visa, insurance provider Prudential Financial and internet group Prosus, raised $523m in its initial public offering yesterday.
The company issued just under 12.2 million shares on the Nasdaq Global Select Market priced at $43 each, above the IPO’s $38 to $42 range. They are trading at $46.83 at time of publication, suggesting a market capitalisation of $7.6bn.
Founded in 2011, Remitly operates a remittance service that lets customers…
