# Crown Agents Bank owner explores sale of British payments group –sources Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-03-15 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Helios Investment Partners Explores Sale of Crown Agents Bank Meta Description: Private equity investor Helios Investment Partners is exploring strategic options, including a private sale or domestic float, for British cross-border URL: https://financedigest.com/crown-agents-bank-owner-explores-sale-of-british-payments-group-sourceshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-03-15t060723z1lynxmpej2e06ertroptp4crown-agents-bank-ipo-1736814314115-compressed.jpg) By Pablo Mayo Cerqueiro and Amy-Jo Crowley LONDON (Reuters) – Helios Investment Partners has been working with advisers to sell a stake in Crown Agents Bank, a British provider of cross-border payments, sources familiar with the matter told Reuters. The private equity investor has engaged Barclays Plc and JPMorgan & Co to explore strategic options, including a private sale and a domestic float, said the sources, who asked not to be named discussing private information. Helios had been preparing to list Crown [Agents Bank’s](https://www.financedigest.com/the-rise-of-virtual-agents-the-future-banking-experience.html "The rise of virtual agents: the future banking experience") shares as soon as next quarter, in what would be Britain’s first major initial public offering (IPO) since Ithaca Energy in November, one source said. But the [timing of a float remains open](https://www.financedigest.com/its-time-for-open-banking-to-open-up.html "It’s time for open banking to open up"), another source said, after the collapse of U.S. lender Silicon Valley [Bank last week sent jitters](https://www.financedigest.com/asian-stocks-rally-as-bank-jitters-calm-alibaba-lifts-mood.html "Asian stocks rally as bank jitters calm, Alibaba lifts mood") across equity markets. Meanwhile, [banks are sounding out buyers as an alternative](https://www.financedigest.com/shifting-sands-how-bank-managers-have-joined-the-alternative-finance-boom.html "Shifting sands – how bank managers have joined the alternative finance boom") to a listing, with indicative offers expected in the coming weeks, one source said. Spokespeople for Barclays and Helios declined to comment. Spokespeople for Crown Agents [Bank and JPMorgan did not return](https://www.financedigest.com/ogrady-to-return-to-bank-of-ireland-as-ceo-irish-times.html "O’Grady to return to Bank of Ireland as CEO – Irish Times") requests for comment. Sources disagreed on the potential price tag for Crown Agents Bank, with two of them placing it at up to 800 [million pounds](https://www.financedigest.com/uk-gives-bbc-world-service-20-million-pounds-to-support-english-language-broadcasting.html "UK gives BBC World Service 20 million pounds to support English language broadcasting") ($973.68 million) and another at well above 1 billion pounds. However, they concurred that its valuation would be informed by that of British [payments giant](https://www.financedigest.com/a-sleeping-digital-giant-wakes-4-key-trends-accelerating-payments-transformation-in-the-us.html "A sleeping digital giant wakes? 4 key trends accelerating payments transformation in the US") Wise. Shares in Wise have slid more than 40% since the group’s landmark direct listing in 2021 and are down almost 3% this year [amid market](https://www.financedigest.com/hsbc-appoints-new-markets-head-amid-wider-investment-bank-reshuffle.html "HSBC appoints new markets head amid wider investment bank reshuffle") turbulence. It [trades at about 45 times](https://www.financedigest.com/how-to-use-algorithms-to-save-time-and-make-money-when-trading-currency-crypto-shares-etc.html "How to use algorithms to save time and make money when trading (currency, crypto, shares etc)") its earnings for the last 12 months and 26 times its earnings before interest, tax, depreciation and amortisation (EBITDA), including debt. Crown Agents Bank, which focuses on emerging markets, posted operating income for 2021 of 53 million pounds, up from 33 million the year prior, along with a twelvefold [increase in profits](https://www.financedigest.com/4-tips-for-landlords-to-increase-rental-property-profits.html "4 Tips for Landlords to Increase Rental Property Profits") to close to 9 million pounds. Its EBITDA stood at 16 [million pounds](https://www.financedigest.com/incentive-qas-expands-retail-portfolio-with-million-pound-shopping-centre-contract.html "Incentive QAS Expands Retail Portfolio With Million Pound Shopping Centre Contract"). The explorations come after IPO levels in London plunged by roughly 90% last [year and global](https://www.financedigest.com/2021-the-year-of-the-global-workforce-for-british-small-businesses.html "2021: The Year of the Global Workforce for British small businesses ") merger and acquisitions (M&A)activity contracted on the back of rising interest rates and economic uncertainty. A float would come as a win for London, where local technology [companies have been looking overseas for a potential](https://www.financedigest.com/factbox-companies-potentially-affected-by-italys-election.html "Factbox: Companies potentially affected by Italy’s election") IPO home. ($1 = 0.8216 pounds) (Reporting by Pablo Mayo Cerqueiro and Amy-Jo Crowley; Editing by John O’Donnell and Josie Kao) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---