Afterpay Explores U.S. Listing as North America Dominates 3Q Results
By Stuart Condie
SYDNEY--Afterpay Ltd. is exploring a U.S. stock market listing
after the buy-now-pay-later provider's North American operations
became the largest contributor to underlying sales in its most
recent fiscal quarter.
The company on Tuesday said it would remain headquartered in
Australia, but believes that a U.S. listing would accommodate
growing global investor interest. It said it had not set a timeline
for a decision, which would be subject to market conditions and
customary listing prerequisites.
Afterpay's underlying sales--the value of transactions made on
its platform--surged to 5.2 billion Australian dollars ($4.0
billion) for the three months through March, compared with A$2.6
billion a year earlier. North America contributed A$2.6 billion,
compared with A$2.1 billion from its longer-established Australia
and New Zealand operations.
Write to Stuart Condie at firstname.lastname@example.org
(END) Dow Jones Newswires
April 19, 2021 19:08 ET (23:08 GMT)
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