Misys to Raise Over £500 Million in IPO
Misys Group Ltd. plan to raise roughly £500 million in a listing on the London Stock Exchange in what is looking to be the biggest initial public offering in the U.K. this year. With a reported revenue of about £714 Million for the year ending on May 31 Misys is expecting to join the LSE in the first half of November.
Being previously listed on the LSE until Vista Equity Partners agreed to buy it for around $2 billion in order to merge it with Turaz, a former division of media group Thomson Reuters.
Misys has a product range comprising of software to create consumer banking apps and bank capital management analysis in order to ensure regulation compliance.
Chief Executive Nadeem Syed stated “this is an exciting step for our business, at a time when the financial services industry is undergoing a historic technological shift, driven by regulatory change, a greater focus on risk management and emerging technologies”.
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