Bank of America research for IPO hopeful Cuscal Limited is out.
Mastercard is one of the major shareholders in Cuscal.Street Talk understands the report, conducted by the end-to-end payments outfit’s sole lead manager has been distributed widely ahead of a possible ASX float before the end of the year.A handful of early-stage NDR meetings wereInvestors were told Cuscal was the only end-to-end business-to-business payments platform with connectivity across the Australian payments landscape.
The business offers payments infrastructure for a range of needs including cards and real-time payments, serving banks, credit unions and fintechs.Cuscal was created in 1990 by member organisations including Australia’s largest credit union CUA. Its register also includes Bendigo and Adelaide Bank and Mastercard.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories.
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