May 13, 2019 / 7:39 PM / 4 months ago

UAE's Finablr extends IPO closing by a day to May 14 -sources

ABU DHABI/LONDON, May 13 (Reuters) - United Arab Emirates-based payments and foreign exchange company Finablr has extended the closing of books for its initial public offering (IPO) to May 14 due to volatile market conditions, two sources familiar with the deal said on Monday.

The books were supposed to close on Monday for a London public offering, which will now close on Tuesday, they said.

The listing of the shares is expected on Wednesday, said the sources, who declined to be identified because the information is not yet public.

The company, whose brands include UAE Exchange, Travelex Holdings and Xpress Money, was seeking to raise $200 million from the sale of new stock ahead of a flotation on the London Stock Exchange. (Reporting by Stanley Carvalho and Pamela Barbaglia; Additional reporting by Hadeel Al Sayegh and Clara Denina; Editing by Catherine Evans)

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