01 May 2019
Largest IPO by a technology company since Worldpay in 2015 and the largest UK listing this year with a market cap of £2.2bn
Link has been appointed to act as registrar to Network International Holdings plc following its Initial Public Offering (IPO) on London Stock Exchange.
The IPO is the largest UK listing this year, achieving a market cap of £2.2bn, and is also the UK’s largest IPO by a technology company since Worldpay in 2015.
Dubai-based Network International is the leading payments processor in the Middle East and Africa. The company provides payment products and services to more than 65,000 merchant partners and 220 financial institutions across more than 50 countries.
David Kilmartin, Director at Link Asset Services commented: “Despite economic uncertainty, it is clear that there is investor appetite for IPOs of companies that have a proven track record of success, a commitment to innovation, and a clear growth strategy. Its successful listing demonstrates that Network International is an attractive proposition for investors, ideally positioned to capitalise from the ongoing structural shift from cash to digital payments. “We are extremely pleased to be appointed by Network International as its partner of choice for this significant milestone in its growth story, drawing on our experience and technology to ensure that the IPO process was smooth, and efficient for both the company, its investors and advisors.”;
Simon Haslam, Chief Executive Officer, Network International commented: “I am delighted that Network International has joined London Stock Exchange through a Premium Listing on the Main Market, marking an exciting new stage in our journey. I am confident that Network International is extremely well positioned for future growth with unique scale in the world’s most underpenetrated payments markets. The Middle East and Africa are at an early stage in the shift from cash to digital payments and our new listing on London Stock Exchange will enable all new shareholders to benefit from this structural growth opportunity.”;