Cuscal Limited (Ticker: CCL AU) is an independent payment service provider headquartered in Sydney, Australia, specializing in payment processing and financial infrastructure for Australian institutions. The company will list on November 25, 2024, on the Australian Securities Exchange (ASX).

Cuscal is offering shares at A$2.50 each, targeting a total raise of A$337 million (USD 224 million) and an anticipated market capitalization of A$479 million (USD 319 million) at the offer price. The IPO structure includes A$40 million in new capital, with the remaining A$297 million sourced from existing shareholders. Proceeds will support investment in securities, working capital, balance sheet strengthening, and regulatory compliance. Institutional bookbuild is scheduled for November 21, with retail subscriptions open from November 18-20.