The house owners of Visma, certainly one of Europe’s largest software program corporations, are near hiring bankers for a £16bn flotation that may rank among the many London market’s largest for years.
Citi, Goldman Sachs, JP Morgan and Morgan Stanley are understood to be amongst these in competition for the highest roles on the deal, Metropolis insiders stated on Friday.
A number of banks are anticipated to be appointed as international coordinators on the IPO as quickly as this month.
Visma is a Norwegian firm which provides accounting, payroll, HR and different enterprise software program to effectively over a million small enterprise prospects.
It has grown at a speedy price in recent times, each organically and thru scores of acquisitions, and has seen its profitability and valuation rise considerably throughout that interval.
The enterprise is now valued at about €19bn (£16.4bn) and is partly owned by a lot of sovereign wealth funds and different non-public fairness companies.
Nearly all of the corporate is owned by Hg, the London-based non-public fairness agency which has backed a string of spectacularly profitable corporations within the software program business.
Visma’s house owners’ determination to choose the UK forward of competitors from Amsterdam represents a great addition to the Metropolis amid ongoing questions in regards to the attractiveness of the London inventory market to worldwide corporations.
Rachel Reeves, the chancellor, used final month’s speech at Mansion Home to launch a taskforce aimed toward producing further IPO exercise within the UK.
Spokespeople claiming to characterize Visma at Kekst, a communications agency, didn’t reply to a collection of enquiries in regards to the IPO appointments.
Hg additionally failed to reply to a request for remark.
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