{"id":110746,"title":"CAB Payments crashed as much as 75pc just three months after its much-touted IPO.","publisher":"Share Talk","author":"sharetalk","published":"2023-10-24T13:25:06+00:00","modified":"2023-10-24T13:25:06+00:00","canonical_url":"https://www.share-talk.com/cab-payments-crashed-as-much-as-75pc-just-three-months-after-its-much-touted-ipo/","markdown_url":"https://www.share-talk.com/cab-payments-crashed-as-much-as-75pc-just-three-months-after-its-much-touted-ipo.md","json_url":"https://www.share-talk.com/cab-payments-crashed-as-much-as-75pc-just-three-months-after-its-much-touted-ipo.json","category":"B2B","categories":["B2B","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["African","CAB Payments Holdings","currencies","Deliveroo","foreign exchange","international","payments","THG"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/CAB-24_10_2023.jpg?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"Shares of **CAB Payments Holdings PLC (LSE: CABP)** plummeted by 75% in initial trading sessions following the company’s alert that its earnings and profits would fall short of projections due to decreased trading volumes and profit margins in major African currencies.\n\nThe company, specializing in business-to-business international payments and foreign exchange, now anticipates revenues for 2023 to be approximately 17% less than what was previously forecasted. However, this is still projected to be a minimum of 20% higher than the £109.4 million earned the previous year.\n\nThe currency processor from Africa, which had an estimated value of about £850m during its July introduction, attributed shifts in market conditions for its primary currency routes to the reduction of its annual predictions.\n\nStock prices plummeted to a low of 53.1p, marking a decrease of 80% from its original 335p IPO value.\n\nThis downturn poses a significant challenge to London’s endeavours to regain trust after a series of unsuccessful public debuts, including companies like Deliveroo and THG.\n\nNick Anderson, a market expert at Liberum, commented, “To put it simply, the trust in the management team has been significantly damaged.\n\n“Although we believe the core business has a compelling value in a vast market, the management’s failure to anticipate and provide direction is alarming.”"}