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PE-backed Skrill Prices I.P.O.

British online payments provider Skrill Holdings plans to raise up to 184 million pounds ($295 million) in its upcoming initial public offering, Reuters reported. The company is pricing its shares between 235 pence and 335 pence each, Reuters said. The IPO is expected to be completed the week of April 11. Skrill is majority owned by private equity group Investcorp Technology Partners.

(Reuters) – British online payments provider Skrill Holdings plans to sell shares at between 235 to 335 pence each in a London listing to raise up to 184 million pounds ($295 million), two people close to the deal said on Monday.

The initial public offering (IPO), which is expected to be completed in the week beginning April 11, will see 80 million pounds of new shares sold and 80 million pounds of shares sold by existing investors, the sources said.

There will also be an overallotment option of 15 percent.

Skrill is majority owned by private equity group Investcorp Technology Partners, who will be among those selling shares in the offering, along with management.

($1=.6243 Pound)

(Reporting by Kylie MacLellan; editing by Steve Slater)