Member Info for wolfhound

Worldpay with EBiTDA of £375m in 2014 ( £346m in 2013) is just over two times the size of OPAY using conservative 2016E EBITDA of £167m - Worldpay is valued at 4 times OPAY in Market Cap yet only double the EBITDA and was oversubscribed by 6-7 times - so lots of pent up investor demand. The delivery of the move to the main market and the achievement of the forecasted synergies in themselves should propel SP north of £6 on a like for like comparison to Worldpay - that would be some return in a yr - 77% . Once name change to PAYSAFE is complete in next week or so then Prospectus should hopefully follow in short order and onwards and upwards to new highs.

Name change to Paysafe should be effective in the next 10 working days ( 4 wks from RNS) and I assume that will pave way for Prospectus to be issued - fits with RNS of company making statement in 1 month once effective. I think that will see next leg up. Interestingly each retrenchment of price has been to the previous high before rebounding to new high.

IMHO the whole reason for Worldpay to IPO is to have a vehicle to raise acquisition capital most likely in a cash and share deal - although I think they will have competition from Ingenico and Wirecard - both of whom were jilted at the altered by Worldpay Could prove to be a real catfight if any of the above tried to bid for OPAY each wanting to outdo the other - currently enough of a discount in the SP for a material margin to be applied and still be earnings accretive for any of the above. Watch this space.

Post close back at 353p, also see that the short is reducing, just the MM doing a friend a favour me thinks....

That sounds about right GS and adds credence to your earlier point about a takeout. The fact that Worldpay went for IPO rather than be bought indicates they are likely to go on the acquisition trail to grow rapidly - Ingenico are likely to want to get one over on them as well as Wirecard - could be the perfect storm you referred to !! GLA

Sounds v logica to me speaking of which........I see the worldpay IPO is close to final price http://www.ft.com/fastft/405221/worldpay-narrows-ipo-price-range-235p-250p OPAY price should also get a lift from this as sector demand is in focus

hopefully an omen of good things to come !!! GLA

Good Morning Techni - indeed - many thanks for injecting some clarity to my rambling, I was referring to Elliot Wave - hopefully we have a closet waver following this thread who can confirm my suspicions. @GS - very good observations - if I read you correctly - likely scenario is a takeout before we reach our full sp potential - say somewhere need £5 ?

Good spot Techni - my Fibonnoci skills are a bit rusty but I am getting the feeling we are at start of phase 3 of the uptrend and as we know that is the longest and most vertical of the 5 stages - would make sense in terms of the re-rating upside - similar in many aspects to CINE's 2014 graph

@techni - hopefully fingers x'd - VIX has also been reducing nicely and is now sub 20 ( just need weak yen to really fire ahead) - OPAY look to have good support at 350 level and next leg up with prospectus release I think will be significant - by my calcs SP is still going through re-rating as we are 20/25% below peers on FTSE and well behind US peers - before you factor in disappointed Worldpay bidders floating about onwards and upwards - GLA

The wider market is starting look like the same trend as last yr - (dow rose from 16100 to 18000 in Oct to Dec) - if that persists then OPAY sp could do v nicely into y/end

firmly on track Techni - dow futures are positive so we should see another push in the afternoon to get us past 350p , which physiologically is significant - once through I agreed we are onwards and upwards

@techni - many thanks that confirms my outlook also - charts looking positive for the breakout to new highs - it looks good to break through 350 mark IMHO GLA

My pleasure Aguero - coming qtr should be v interesting and hopefully rewarding

IMHO - process and timelines are likely to be ( no guarantees) : - EGM approval paves way for prospectus to be issued in name of PAYSAFE Group (PAY ??). - PAY issue prospectus for FTSE - between now and end oct - PAY included in FTSE- Nov - PAY join FTSE250 in/around Dec 20 OPAY have confirmed 2 communications * End Oct - completion of name change process * End Nov - qtrly trading update Onwards and upwards

trading via equity futures - we had the same last time it legged up current candlestick graphs look good for next leg up in SP probably to 355/365 level - but I defer to the Guru of charts - Techni :) on that call.

well we haven't had the RNS post the EGM this morning - maybe we are going to get some bigger news post the close :)

@techni - many thanks - onwards and upwards to the 350/360 levels and beyond. I can't help thinking the move to qtrly trading update starting in November might in some way be a forward indicator to a potential dual listing on either NYSE/NASDAQ later this year - now that would really cause a re-rating to a much higher PE plus open up an additional set of potential tracker funds.

@GS - that would be great start alright - you are spot on in your observation - Edison took a very conservative view in their PBT estimates for 2016 and even more so for 2017. But this is all just part of the rerating process - I think next piece will be more bullish as SP gap to peers closes. OPAY 2016PE relative to its UK peers it is about 40% undervalued, and that moves to about 80% when you take in the global payment market - obviously the US is a more bullish than UK on payments sector and see the long term potential. An observation that will no doubt been spotted along time ago by JL - it would not surprise me if he goes for a dual listing onto NASDAQ later this year - after all if you want to compete with the 800lb gorilla then you probably want to be in the same jungle. A surprise announcement like that would automatically propel the stock well past £5 IMHO. Looking forward to Techni updated charts GLA

I think we just broke out to next leg up - could soon see end of the £3