When CAB Payments went public on the London Stock Exchange three months ago, its shares dropped nearly 10% on their first day of trading on a market starved of new listings lately.

After issuing a stark warning on revenues, the fintech firm’s shares crashed nearly 74% Tuesday. Since the stock was listed, its value has dropped 82%.

A data provider said the company, which offers foreign currency and cross-border payment services for businesses, sold shares worth $371 million to investors in July, making it the second-biggest IPO in London so far this year.

According to CAB Payments, revenue this year will likely be 17% lower than its previous guidance but still 20% higher than 2022.

The firm attributed the weaker forecast to “changes in market conditions” in some of its key markets, including the Nigerian naira, Central African franc, and West African franc.

According to the company, the current market conditions are compressing margins and reducing trading volume.

The company said it planned to cut costs to mitigate the impact on its profitability, but that it anticipates the majority of any revenue impact will flow through to its bottom line.

Over 90% of the value of the naira has fallen since mid-June, hitting a record low of 884 against the US dollar on Monday as Nigeria struggles to find dollars.

The stock of CAB Payments traded at almost 59 pence (72 cents) by 09.01 Eastern Time on Tuesday, down from its July 6 closing price of £3.03 ($3.70). Shares were priced at £3.35 ($4) each.