London Stock Exchange received a significant boost as Norway’s €19bn software company, Visma, chose London over Amsterdam for its upcoming initial public offering. The decision to opt for London was influenced by its deep capital markets and the presence of investors specifically interested in UK stocks.
Visma, headquartered in Oslo and predominantly owned by London-based private equity firm Hg Capital, has shown remarkable growth since its privatization in 2006. The company, specializing in accounting, payroll, and HR software, serves a vast customer base across Northern Europe and Latin America.
The potential IPO in London comes at a crucial time for the city’s stock exchange, which has experienced the departure of major companies like Indivior and Tui in recent times. The move by Visma is seen as a rare victory for the London market, amidst a trend of companies delisting or shifting their primary listings elsewhere.
Despite the provisional nature of the decision, Visma’s preference for London underscores the city’s appeal for companies seeking to go public. The company’s growth trajectory, with 16,400 employees and €2.8bn in revenues last year, reflects its strong market position and investor confidence.
London’s attractiveness as a financial hub, coupled with ongoing reforms by the UK government and the London Stock Exchange post-Brexit, has positioned the city favorably for companies like Visma looking to tap into the capital markets.
Visma’s journey from a hostile takeover bid in 2006 to becoming Europe’s largest privately owned software company showcases the resilience and strategic vision of both the company and its investors. The company’s expansion through numerous acquisitions and consistent revenue growth highlights its ability to navigate market challenges.
With a diverse investor base, including prominent names like Singapore’s GIC, Canada’s CPP Investments, and Texas-based TPG, Visma’s IPO plans in London are poised to attract significant attention and further solidify its market presence.
As Visma gears up for its potential IPO, the decision reflects not only the company’s growth trajectory but also London’s enduring appeal as a financial center despite challenges posed by Brexit and market dynamics. The move underscores the confidence in London’s capital markets and investor base, setting the stage for a significant milestone in Visma’s corporate journey.
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