Norway’s €19bn software company Visma picks London for IPO | London Stock Exchange

The €19bn Norwegian software program firm Visma has picked London over Amsterdam for its deliberate flotation subsequent yr, giving a much-needed increase to the London inventory market.The corporate, which makes accounting, payroll and HR software program merchandise for two.1 million clients throughout Northern Europe and Latin America, has but to make a closing choice however London is the frontrunner, it’s understood.Visma is assumed to have picked London for its preliminary public providing (IPO) due to its deep capital markets and the presence of extra buyers who focus solely on shopping for UK shares in contrast with those that buy solely Dutch equities, in information first reported by the Monetary Instances.It will be a uncommon win for London’s inventory change, which has been hit by an exodus of massive names such because the drugmaker Indivior, which just lately opted for a sole itemizing on the US Nasdaq, and the Anglo-German journey group Tui, which final yr switched to a sole itemizing in Frankfurt. In 2024, the London market misplaced 88 corporations that delisted or transferred their major itemizing elsewhere, probably the most for the reason that 2008-09 monetary disaster, in accordance with evaluation by EY.The choice is contingent on implementation of reforms by the UK authorities and the London Inventory Trade, to offset issues attributable to Brexit.Visma, headquartered in Oslo, is 70%-owned by the London-based personal fairness agency Hg Capital. Hg, the UK’s second-biggest personal fairness agency behind the Jersey-based CVC Capital Companions, determined 20 years in the past to give attention to software program investments.HG helped to take Visma personal from the Oslo inventory change in 2006 at a valuation of practically £330m, when it stepped in as a white knight investor after Visma acquired a hostile bid from the UK software program group Sage.Since then, Visma has grown each quarter, and expanded via 350 bolt-on acquisitions. It has 16,400 staff and reported revenues of €2.8bn final yr, with practically 12% natural development. It made underlying income of €893m.Different buyers embrace Singapore’s sovereign wealth fund GIC, the Singaporean personal fairness agency Intermediate Capital Group, Canada’s CPP Investments and the Texas-based personal fairness group TPG. Visma’s administration group, led by the chief govt, Merete Hverven, and group staff collectively personal 6.4%. She joined the corporate in 2011 and took the helm in March 2020.skip previous publication promotionSign as much as Enterprise TodayGet set for the working day – we’ll level you to all of the enterprise information and evaluation you want each morningPrivacy Discover: Newsletters might comprise data about charities, on-line advertisements, and content material funded by outdoors events. For extra data see our Privateness Coverage. We use Google reCaptcha to guard our web site and the Google Privateness Coverage and Phrases of Service apply.after publication promotionVisma, the biggest privately owned software program firm in Europe, beforehand thought-about itemizing in 2023 however amid market volatility determined to lift funds from personal buyers as a substitute.Visma and Hg declined to remark.