Pushpay's bookbuild for co-founder's stake sale fully underwritten at $4 a share

Deutsche Craigs is seeking bids for the 24.8 million shares, or a 9.03 percent stake, in Pushpay Holdings that co-founder Eliot Crowther is looking to sell.

The deal is underwritten at $4 a share, which is an 8.8 percent discount to the five-day volume weighted average price and values the stake at $99.2 million, the company said. 

The completion of the bookbuild, overseen by Deutsche Craigs and Craigs Investment Partners, is expected to be announced later today. 

Crowther is leaving the mobile payments app developer, valued at $1.2 billion by market capitalisation, for personal reasons to focus on his family.

Trading in Pushpay shares, last at $4.37, has been halted since Monday pending the sale.

(BusinessDesk)

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Mercury appoints new Chief Sustainability Officer
April 24th Morning Report
VCT - Operational performance for 9 months ended 31 March 2025
April 23rd Morning Report
TWR - Capital Return - ATO Class Ruling Obtained
THL - FY25 Trading Update
April 17th Morning Report
EBOS announces opening of Retail Offer
MCY - FY2025 EBITDAF guidance revised to $760m
April 16th Morning Report