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Payment company Nets to announce listing plan on Thursday: sources

Wednesday, August 31, 2016 - 21:14
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Denmark-based card payment services company Nets will announce its plan for an initial public offering (IPO) on Thursday, two people involved in the process said on Wednesday.

[COPENHAGEN] Denmark-based card payment services company Nets will announce its plan for an initial public offering (IPO) on Thursday, two people involved in the process said on Wednesday.

An IPO of the Nordic financial technology company on the Copenhagen bourse had been targeted since its acquisition by private equity firms Advent International and Bain Capital and Danish pension fund ATP in March 2014.

The intention to float announcement on Thursday is expected to be followed by a prospectus within weeks, the sources told Reuters.

A Nets spokesman declined to comment.

Both sources said that the actual listing is planned for September and that only unpredictable market-moving events can derail the plan.

Nets handled more than seven billion card transactions last year and analysts have indicated a potential market capitalisation of between 30 billion crowns (S$6.07 billion) and 35 billion crowns.

British payments processor Worldpay Group was listed on the London Stock Exchange in October last year with a valuation of 4.8 billion pounds (S$8.33 billion).

REUTERS