trending Market Intelligence /marketintelligence/en/news-insights/trending/dbiupbb8ua9xz-dyg6pclw2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

UK financial software provider plans IPO

TMT: Leading Trends And What To Watch

US Utility Commissioners: A Key Factor In Assessing Regulatory Risk

The Essential Conference 2019 Highlight Reel

Municipal-Run Fiber Tops 280000 Subscribers In 2018


UK financial software provider plans IPO

Misys, a provider of software and associated services to thefinancial services industry, intends to raise approximately £500 millionthrough an IPO, with trading on the London Stock Exchange expected to takeplace in early November.

The proceeds, along with new debt facilities, will primarilybe used to repay existing debt, the company said.

Immediately following admission of its ordinary shares tothe premium listing segment of the U.K. Listing Authority, the company expectsto have a free float of at least 25% of its issued share capital.The IPO will value the company at about £6 billion, including debt,"people familiar with the matter" told Bloomberg News.

In 2012, Misys was delisted when it was acquired byVista Equity Partners ManagementLLC. It was then merged with Turaz, the former treasury and riskmanagement software division of Thomson Reuters, with the combined businessretaining the Misys name.

The offer may include a partial sale of shares held by TahoeHoldco Cayman Ltd. and the company's directors and management team members,along with other individual shareholders. Tahoe Holdco Cayman is controlled byfunds advised by Vista Equity Partners and its affiliates.

Goldman Sachs, Bank of America Merrill Lynch and J.P. MorganCazenove serve as joint sponsors, joint global coordinators and joint bookrunners for the intended IPO. Morgan Stanley acts as joint global coordinatorand joint book runner while Barclays, Credit Suisse and Deutsche Bank are jointbook runners. Moelis & Co. is financial adviser to Misys.

Meanwhile, John Hughes agreed to join as independentchairman of the board of Misys. Lawton Fitt will serve as anindependent nonexecutive director.