13th Oct 2015 14:12
LONDON (Alliance News) - Optimal Payments PLC on Tuesday said that March 2016 is the earliest stage at which it will be considered for inclusion in the FTSE 250, meaning it won't be ready for the very next review in December.
Optimal Payments' EUR1.10 billion reverse takeover of rival Skrill in March has sparked the payments company's desire to move to the London Main Market. The acquisition was completed on August 10.
Its move from the AIM junior market could see Optimal Payments become a member of the FTSE 250 index, which tends to stimulate demand among investors. The company currently has a market capitalisation of GBP1.6 billion, which would place it in the top half of the FTSE 250.
"The company anticipates the earliest possible date at which the company will be considered for inclusion in the FTSE 250 index will be the quarterly review in March 2016," Optimal Payments said.
The next quarterly review is scheduled for December.
Shares in Optimal Payments were down 5.1% at 328.50 pence on Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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