Network International lists on London Stock Exchange

  • Network International raises £1.1 billion ($1.4 billion), valuing the company at £2.2 billion ($2.8 billion)
  • Largest ever Middle East & Africa (MEA) technology IPO listed on any exchange globally
  • Largest ever MEA IPO across all sectors listed on London Stock Exchange
  • Largest tech IPO listed on London Stock Exchange since 2015
  • Largest MEA IPO listed on any exchange globally since 2014

London Stock Exchange welcomes Network International, a leading enabler of digital commerce across the Middle East & Africa (MEA), to the premium listing segment of its Main Market. The company has raised £1.1 billion ($1.4 billion), valuing the company at £2.2 billion ($2.8 billion) and is the largest MEA IPO listed on any exchange globally since 2014. The listing is also the largest ever technology IPO from a MEA-based firm globally and the largest technology company to list on London Stock Exchange since 2015.

Simon Haslam, Chief Executive Officer, Network International said:
“I am delighted that Network International will join London Stock Exchange today through a Premium Listing on the Main Market, marking an exciting new stage in our journey. Over the past few weeks we have seen significant support from the investment community and I would like to take this opportunity to welcome our new shareholders, including Mastercard, onboard. I would also like to thank all our employees, whose hard work and dedication have got us to this point. I am confident that Network International is extremely well positioned for future growth with unique scale in the world’s most underpenetrated payments markets. The Middle East and Africa are at an early stage in the shift from cash to digital payments and our new listing on London Stock Exchange will enable all new shareholders to benefit from this structural growth opportunity.”

Dr Robert Barnes, Global Head of Primary Markets and CEO Turquoise, London Stock Exchange Group:
“We warmly congratulate Network International on its listing and are proud to welcome the largest MEA tech IPO on record to London Stock Exchange. With more than 140 companies from the region raising a combined $36 billion in equity capital on our markets, London continues to be a strong funding partner to dynamic MEA companies seeking to attract international investment. Network International’s IPO also adds to a fast-growing community of tech companies choosing our markets to support their growth journey, reinforcing London’s ability to provide access to sources of liquid, long-term international investor capital.”

William Vereker, Prime Minister’s Business Envoy:
“I’m delighted that Network International has chosen London for its landmark listing. London is a thriving hub for the tech community who benefit from joining an ecosystem of entrepreneurs, advisers and investors, enabling leading companies across the globe to secure funding, scale-up and grow.”

London Stock Exchange is a leading venue for both technology and MEA companies. Network International’s listing represents a number of firsts for the technology sector and MEA region, including:

  • Largest ever MEA technology IPO listed on any exchange globally
  • Largest ever MEA IPO across all sectors on London Stock Exchange
  • Largest technology IPO listed on London Stock Exchange since Worldpay raised $2.8 billion in 2015
  • Largest MEA IPO listed on any exchange globally since Saudi National Commercial Bank raised $5 billion in 2014
  • Since 2014, technology companies on London Stock Exchange have raised over $37 billion in IPO and follow-on capital