Cashcard sale on the cards
(7th November 2003 – Australia) ATM provider Cashcard has shelved plans for an initial public offering and is discussing selling the business with a number of potential buyers.
Cashcard, whose owners include St George and Suncorp-Metway, had intended a $300 million IPO by the end of the year with the aim of listing on the Australian Stock Exchange by December 2004.
This week, the company posted a post-tax profit of $4.4 million for 2003, a year which saw it purchase EBS, Movieline and Direct Cash ATM networks, as well as Adelaide Bank’s EFTPOS network.
Cashcard now owns and operates more than 4000 ATMs.
This week, the company posted a post-tax profit of $4.4 million for 2003, a year which saw it purchase EBS, Movieline and Direct Cash ATM networks, as well as Adelaide Bank’s EFTPOS network.
Cashcard now owns and operates more than 4000 ATMs.
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