Singapore’s Coda Payments Pushing for $4B Valuation

Singapore’s Coda Payments Pte is seeking a valuation of at least $4 billion as it explores a sale or initial public offering (IPO), according to a Tuesday (Nov. 23) Bloomberg report.

Goldman Sachs is advising Coda Payments on a strategic review that includes whether to sell the company or take it public.

Coda Payments said it had no details to reveal publicly about its future and whether it would consider a sale or IPO, while a Goldman Sachs representative declined to comment on the situation.

Related: Authentic Brands Group Shelves IPO Plans

Meanwhile, retail aggregation firm Authentic Brands Group has scrapped its IPO plans and will instead sell stakes in the company to private equity firm CVC Capital, hedge fund HPS Investment Partners and a group of existing stakeholders at a $12.7 billion valuation.

Authentic Brands oversees apparel retailers Forever 21 and Aeropostale, department store chain Barneys New York, men’s suit maker Brooks Brothers and Sports Illustrated magazine, among many others. It’s expected to close a deal for sneaker maker Reebok early next year.

CEO Jamie Salter said Authentic Brands will target 2023 or 2024 for its IPO after filing the paperwork in July.

Also Read: Singapore-Based BNPL Firm Pace Nets $40M in Series A Funding

Singapore-based buy now, pay later (BNPL) company Pace recently snagged $40 million in its Series A investment round, including investors in Singapore, Japan, South Korea, Taiwan and Indonesia.

The latest funding will be used to expand Pace’s technology, operations and business development to Japan, Korea and Taiwan.