Ebix Provides A Strategic Update; Progressing Forward With Its Plan To Complete IPO Of Its EBIXCash Subsidiary; It Is In Advanced Stages Of A Part-Asset Sale Exercise
Portfolio Pulse from Benzinga Newsdesk
Ebix Inc. is progressing with its plan to complete an IPO of its EbixCash subsidiary in India. The company is also in advanced stages of a part-asset sale exercise, with potential proceeds sufficient to repay 100% of its bank debt. The asset sale is intended to be a liability-free transaction for the successful bidder. Ebix has received bids from a mix of strategic and financial bidders.
July 06, 2023 | 12:44 pm
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Ebix's plans for an IPO of its EbixCash subsidiary and a part-asset sale could potentially improve its financial position by repaying its bank debt.
The IPO of EbixCash and the part-asset sale could bring in significant funds for Ebix, potentially allowing it to repay its bank debt. This could improve the company's financial health and make it more attractive to investors, potentially leading to a rise in its stock price.
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