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Report: Australia's Tyro Payments to list by Christmas

Tyro Payments Ltd. is expected to list its shares through its planned IPO by Christmas, The Australian reported Sept. 5.

The Sydney-based payments processor is expected to be priced at approximately 10× its earnings in the offering. While the company is expected to be worth about A$2 billion, the IPO would likely be worth A$250 million, according to the report.

Morgan Stanley and JPMorgan are assisting Tyro Payments with the IPO.