Network International Confirms Plan to Proceed With London IPO - Bloomberg

Network International Confirms Plan to Proceed With London IPO - Bloomberg:

Middle Eastern payment processor Network International plans to list its shares in London next month in the first big initial public offering in the U.K. this year. 


Indicative price range, together with the maximum number of shares to be sold in the offer, will be determined in due course, the company said in a statement. Network International intends to have a free float of at least 25 percent of its issued share capital.

An IPO could value the company at about $3 billion, people familiar with the matter said in November and the company expects to be eligible for inclusion in FTSE U.K. indexes. Warburg Pincus and General Atlantic jointly own a 49 percent stake in Network International, while Dubai’s biggest bank, Emirates NBD PJSC, holds the remaining 51 percent.