Process payments giant, Interswitch Ltd, is considering initial public offerings in London and Lagos next year Bloomberg reports.
The report also quotes its CEO, Mitchell Elegbe as saying the company has discussed share sales with banks including Bank of America Corp., Barclays Plc and Standard Bank Group Ltd. and may choose advisers for a transaction within a few months.
If the listing is consummated, the Interswitch will become the first company after Seplat to perform a dual listing in London and Lagos
Interswitch is about 70 percent-held by London-based private equity group Helios Investment Partners LLP, South Africa’s Adlevo Capital Managers LLC and the International Finance Corp., a unit of the World Bank
Helios bought 52 percent of Interswitch for $96 million in Dec. 2010 putting the value at about $184.6million back then
Interswitch has since grown rapidly since then and could be worth even more.
