Dubai payment firm Network International to list in London

DUBAI, United Arab Emirates — The Dubai-based payment processing firm Network International, which completes credit card transactions across the Middle East and North Africa, is preparing for an initial public offering.

The company made the announcement on Thursday, saying it planned to list on the London Stock Exchange. It plans to free float at least 25 percent of the company's share capital.

The stock prospectus for the company, founded in 1994 as a subsidiary of Dubai's Emirates NBD Bank, had revenues of $298 million in 2018. It said it processed some $40 billion in transactions last year.

The company is owned by Emirates NBD and Warburg Pincus and General Atlantic, a U.S. private equity firm.

Must Read

In Kuwait, 'too many foreigners' becomes a...

Feb 21, 2017

Kuwait's first new government hospital in more than three decades will soon open its doors _ but to...

Turkish leader wades into Qatar dispute with Gulf...

Jul 24, 2017

Turkey's president has waded into the diplomatic crisis gripping Qatar and four other Arab nations...

Kuwait calms Philippines after dead worker found...

Feb 13, 2018

Kuwait's foreign minister is trying to calm the anger of the Philippines after a dead Filipina was...

The Latest: Austria's Kurz sees border as Brexit...

Oct 15, 2018

Dutch Prime Minister Mark Rutte and Austrian Chancellor Sebastian Kurz say they still think a...

EU official urges Britain's May to get creative...

Oct 16, 2018

A top European Union official is imploring British Prime Minister Theresa May to adopt "a new...