Transact’s parent company IntegraFin has revealed its initial public offering plans value the platform provider at just under £650m.

IntegraFin Holdings has set the offer price at 196p per share in a Stock Exchange announcement today. In early conditional trading shares were changing hands at up to 242p per share today.

Ian Taylor, chief executive of IntegraFin, said: "We have been delighted with the response IntegraFin has received from investors and welcome them to our business. It is 19 years since our foundation as the UK's first B2B platform company and the support we have received to date is a strong reflection of our successful growth since inception.

“We are proud to have built such a business and look forward to maintaining the high levels of service to our clients and building valuable, long-term relationships with our shareholders."  

Patrick Snowball, chairman of IntegraFin, said: "IntegraFin, as a pioneer in wrap services in the UK, has created an enviable position in the fast-growing platform market. As a board we are confident that the business will thrive as a member of the London Stock Exchange and continue to deliver value to shareholders."

The offer comprises 90,631,302 shares, representing approximately 27 per cent of IntegraFin's total issued share capital on admission, valuing the offer at £177.6 million suggesting a total value for the business of £650m.

At admission, the company will have 331,322,014 shares in issue.

Conditional dealings in the shares on the London Stock Exchange began at 8am today.