Shift4 Payments files to go public
May 15 (Reuters) - Payments technology firm Shift4 Payments Inc filed for its U.S. initial public offering on Friday, at a time when more transactions are moving online due to coronavirus-led restrictions.
Companies that provide online infrastructure for financial and payment services are getting a boost amid the COVID-19 pandemic as more customers gravitate towards contactless payments and online banking services.
The Pennsylvania-based company reported a net loss of $58.1 million in 2019, compared with $49.9 million in 2018. Gross revenue rose 30.5% during the same period, according https://www.sec.gov/Archives/edgar/data/1794669/000119312520144049/d829549ds1.htm#rom829549_16 to its regulatory filing.
The company plans to list its Class A common shares on the New York Stock Exchange under the symbol "FOUR".
Citigroup, Credit Suisse, Goldman Sachs and Morgan Stanley are among the underwiters of the IPO. (Reporting by C Nivedita in Bengaluru; Editing by Krishna Chandra Eluri)
