Network International plans London listing

Middle Eastern payments processor Network International is contemplating a listing on the London Stock Exchange.

Fifty-one percent owned by Emirates NBD, Network International was spun off as a separate company in 2015 in a deal which saw Warburg Pincus and General Atlantic pick up the remaining 49% minority ownership.

The company operates in over 50 countries across the Middle East and Africa, processing digital payments for companies through desktop PCs and smartphones.

Rumours of a potential float have been circulating for some time, with a £2.2 billion valuation applied to the business. It is understood that the company will offer 25% of its shares on London's main market.

As part of the process, Network International has announced the departure of long-time chairman Abdulla Qassem, who will be replaced by Ron Kalifa, the former chief executive and current deputy chairman of the UK's WorldPay.

Azure Integration Opens Blockchain Firm Kaleido to...
Bitcoin Trades Flat While Altcoins Tease Bull Brea...


Already Registered? Login Here
No comments made yet. Be the first to submit a comment