Deals
Dubai Payments Firm Network International Plans London IPO
- Appoints Worldpay director Rohinton Kalifa as chairman
- Brexit not expected to affect IPO because of company focus
This article is for subscribers only.
Middle Eastern payment processor Network International has announced plans to sell a 25 percent stake in London in the first big initial public offering in the U.K. this year.
The company will not raise any new capital from the listing, scheduled for about four weeks from now, and shareholders are expected to reduce their stakes on a pro-rata basis. 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.