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Market Chatter: PalmPay Weighs Hong Kong IPO After $1 Billion Valuation

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Africa-focused fintech PalmPay is preparing for a potential Hong Kong initial public offering after securing a valuation of more than $1 billion in an ongoing funding round, Bloomberg News reported, citing people familiar with the matter.

The company is in talks to raise about $200 million in the financing round, according to the report.

PalmPay, which focuses on Nigeria's payments market, has reportedly held preliminary discussions with prospective investors in recent months to raise growth capital.

While the fundraising is at an advanced stage, talks on a Hong Kong listing remain ongoing, with the size, timing, and valuation yet to be determined, Bloomberg reported.

PalmPay did not immediately respond to MTNewsires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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