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Nets hits European IPO jackpot of $4.5 billion

Nets hits European IPO jackpot of $4.5 billion

Nets Holding launched Europe’s biggest initial public offering since the UK voted to leave the EU, with a listing that gives Scandinavia’s biggest payments processor a market capitalisation of about DKr30bn ($4.5bn)

The flotation of Nets on the Danish stock exchange is expected to be priced at Dkr1.50 a share, the

Nets migrates to WAY4

Nets migrates to WAY4 to advance its banks card business

upper end of its initial range, raising about DKr5.5bn through the issue of new shares and a partial sell down by its private equity owners.

It is only two years since Nets was bought by the US private equity firms Bain Capital and Advent International, in a consortium with Danish pension fund ATP Group.

Advent International, Bain and Danish pension fund ATP acquired Nets for 17 billion kroner from a group of 186 Nordic banks in March 2014.

Nets opened trading with a share price of 150 kroner, following a massively oversubscribed offering of 52% of the company’s equity in a free float to institutional investors.

The share price rose by 4.7% in early trading, before subsiding to 1.7% off the opening to 147.4 kroner by mid-morning.

The post Nets hits European IPO jackpot of $4.5 billion appeared first on Payments Cards & Mobile.

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