Payment processor Mercury Payment Systems files for an IPO that should raise at least $200 million

By Renaissance Capital,

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Mercury Payment Systems, which provides payment processing services to businesses in the US and Canada, filed on Friday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate that the company will raise at least $200-$300 million. 

The Durango, CO-based company, which was founded in 2001 and booked $237 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol MPS. Mercury Payment Systems initially filed confidentially on December 13, 2013. J.P. Morgan, Barclays and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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