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UAE-based payments firm Network International to change name

Dubai-based Network International LLC said it will re-register as a public limited company under the name Network International Holdings PLC prior to admission of its shares after its London IPO.

The payments processing firm said admission of the shares in the offering, which would give it a free float of at least 25%, is expected to happen in April.

The selling shareholders, Emirates NBD Bank PJSC and WP/GA Dubai IV BV, will also provide an overallotment option of up to 15% of the base size of the offering, which will be announced in the coming weeks, along with the offer price.