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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Finablr PLC    FIN   GB00BJ7HMW26

FINABLR PLC

(FIN)
  Report
Delayed Quote. Delayed London Stock Exchange - 02/21 11:35:23 am
71 GBp   -5.90%
05:16aNMC founder Shetty appoints Houlihan Lokey as financial advisor- source
RE
02/19FINABLR : Statement re. Shareholding
PU
02/17BAVAGUTHU RAGHURAM SHETTY : From pharma salesman to healthcare baron
RE
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Finablr stock dives on debt deal in fresh blow to billionaire owner

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01/24/2020 | 01:56pm EST

Shares in payments company Finablr plunged 27% on Friday after it disclosed its majority owner, UAE-based Indian billionaire B. R. Shetty, had pledged over half the company's stock as security against debts it incurred buying Travelex.

In response to the share price drop, Finablr in a statement said it had sought clarifications from BRS, an investment vehicle owned by Shetty, which had reassured it about the level of security represented by its holding in Finablr and the talks it has had with its banking group about repayment or refinancing of the debt.

Finablr declined to immediately give further details when contacted by Reuters.

Another of Shetty's London-listed firms, United Arab Emirates' largest private healthcare provider NMC Health has halved in value after being hit in December by U.S. short-selling firm Muddy Waters.

Shetty's Finablr in 2015 bought British travel money firm Travelex, which this month suffered a cyber attack that forced its systems offline for weeks and caused chaos for holidaymakers.

In its statement, published after markets closed on Friday, Finablr said the cyber incident at Travelex was being resolved and would not impact 2019's results, nor was it expected to have a material impact on the company's performance in the current year.

More than 300 million pounds was wiped off Finablr's market capitalisation on Friday, reducing it to 665 million pounds.

"The outlook for Finablr is poor. The fact the founder used roughly half of the company's shares as collateral for a loan suggests the situation is serious," said CMC Markets analyst David Madden.

"The Travelex crisis has clearly hit the founder hard and it suggests that he is scrambling around to get financing. Even if the funding issue is sorted out, Finablr's share price will probably struggle to recover – like NMC Health."

Shetty did not immediately respond to requests for comment.

The Travelex hack left the majority of British high street banks, which use the company to provide travel money to customers, unable to take online orders.

Finablr floated on the London Stock Exchange in May last year and since then it has fallen nearly 44% in value.

(GRAPHIC: Finablr - https://fingfx.thomsonreuters.com/gfx/buzzifr/15/5434/5434/Pasted%20Image.jpg)

(Reporting by Lawrence White and Iain Withers in London and Muvija M in Bengaluru; editing by Rachel Armstrong, Elaine Hardcastle, Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
CMC MARKETS PLC 1.34% 165.8 Delayed Quote.11.60%
EURO / DIRHAM (EUR/AED) 0.60% 3.9831 Delayed Quote.-3.59%
FINABLR PLC -5.90% 71 Delayed Quote.-55.72%
LONDON STOCK EXCHANGE PLC 0.07% 8422 Delayed Quote.8.59%
NMC HEALTH PLC 0.09% 855.2 Delayed Quote.-51.48%
US DOLLAR / DIRHAM (USD/AED) 0.03% 3.6727 Delayed Quote.0.00%
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Latest news on FINABLR PLC
05:16aNMC founder Shetty appoints Houlihan Lokey as financial advisor- source
RE
02/19FINABLR : Statement re. Shareholding
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02/17NMC Health founder Shetty resigns as co-chairman in latest blow
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01/31Travelex recovers UK website after ransomware hit
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More news
Financials (USD)
Sales 2019 1 576 M
EBIT 2019 136 M
Net income 2019 64,2 M
Debt 2019 379 M
Yield 2019 0,32%
P/E ratio 2019 7,75x
P/E ratio 2020 5,33x
EV / Sales2019 0,58x
EV / Sales2020 0,63x
Capitalization 528 M
Chart FINABLR PLC
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Technical analysis trends FINABLR PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 2,17  $
Last Close Price 0,71  $
Spread / Highest target 296%
Spread / Average Target 206%
Spread / Lowest Target 67,2%
EPS Revisions
Managers
NameTitle
Promoth Manghat Group Chief Executive Officer & Executive Director
Bavaguthu Raghuram Shetty Co-Chairman
Michael Hardwick Tomalin Co-Chairman
Rahul Ranjith Pai Group Chief Financial Officer
Mehul Desai Group Chief Technology Officer
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