Updates

eServGlobal - HomeSend placing

October 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

eServGlobal has announced a fundraising of £19m by way of a placing of 304m new shares at 6.25p in order to fund its share of a €50m capital raise by HomeSend, the cross-border transaction platform. This will maintain its holding at 35.69%. Broker Finncap states that “transaction volumes and HomeSend revenues are now set to take off. High operational gearing will translate that into remarkable earnings and cash generation for the JV. To prime this engine, HomeSend requires a large cash float to hold in multiple currencies enabling a network of direct connections and FX capabilities. Giving some idea of the scale of transactions expected, HomeSend has asked for a €50m capital injection; €32m from Mastercard and ...

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