Deals
Network International IPO has Demand for all Shares on First Day
- Sale values the payments processor at as much as $3.1 billion
- Emirates NBD, Warburg Pincus, General Atlantic to sell shares
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Network International has demand for all stock being sold on the first day of an initial public offering that will value the Middle Eastern payment processor at as much as $3.1 billion, people familiar with the matter said.
Network International set the price range for its London IPO at 395 pence to 465 pence per share, implying a market value of 1.98 billion pounds to 2.33 billion pounds ($2.6 billion to $3.1 billion), the firm said in a statement on Monday. The offering will allow shareholders Emirates NBD PJSC, Warburg Pincus and General Atlantic to reduce their stakes.