Infibeam Avenues restructures UAE unit as it plans ADX listing
12 Mar 2025, 12:51 PMThe restructuring involves transferring the mirror shareholding in Avenues World FZ-LLC to Infibeam Avenues ME SPV Ltd, a newly formed entity in Abu Dhabi.
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Payment aggregator firm Infibeam Avenues Ltd is making strategic moves in the UAE, reorganizing its subsidiary's shareholding structure as it prepares for a listing that will turbocharge its digital payment strategy.
The restructuring involves transferring the mirror shareholding in Avenues World FZ-LLC to Infibeam Avenues ME SPV Ltd, a newly formed entity in Abu Dhabi.
As informed in a stock exchange filing by the company, Vavian International Ltd, Infibeam's wholly-owned UAE subsidiary, will maintain an 80% stake in this new SPV, which will in turn control Avenues World FZ-LLC—the operator behind the CCAvenue.ae payment gateway.
This reorganization reflects Infibeam's aggressive stance on the booming digital payments landscape across the Middle East and North Africa (MENA) region. The move positions the company for its upcoming ADX IPO fundraising effort on the Abu Dhabi Stock Exchange, which mandates headquarters location in Abu Dhabi.
Infibeam also announced that Avenues World FZ-LLC had secured up to $20 million through a pre-IPO equity placement. This 20% dilution valued the firm at an $100 million post-money.
In August 2023, Infibeam Avenues was reported to have processed over AED 1 billion in transactions in a single month. By October 2023, its CCAvenue.ae payment gateway had processed more than AED 24.5 billion in transactions, serving over 5,000 merchants across various industries, including high-profile clients such as Burj Khalifa, Emaar, Damac, Nakheel, and Trump Golf Dubai.
Earlier, Infibeam Avenues had introduced mobile-based QR code solutions in the UAE. It also secured the Payment Tokenization Service Provider (PTSP) certification from the Saudi Arabian Monetary Authority (SAMA).