Emma Okonji with agency report
Interswitch, a Nigerian-based payments platform, has hired financial advisers to resume plans for listing on the Nigerian Stock Exchange (NSE) and the London Stock Exchange.
JPMorgan Chase & Co., Citigroup Inc. and Standard Bank Group Limited are among the firms working on an initial public offering (IPO), which may value the financial technology company at $1.3 billion to $1.5 billion, according to Bloomberg report.
According to the report, lnterswitch is reviving its plans for an initial public offering, via a dual listing on the Nigerian Stock Exchange and London Stock Exchange later this year.
Interswitch, owned by private equity firm, Helios Investment Partners, has engaged with banks in recent weeks after a thwarted IPO attempt two years ago.
The resumed plan by Interswitch to list on NSE, is coming on the heels of MTN listing earlier in May, followed by Airtel, thus increasing the market capitalisation…
Source: Thisday Newspaper
