LONDON: Network International shares surged in London trading after the payments processor raised £1.1bil (US$1.4bil) in an initial public offering that’s the biggest listing in Europe so far this year.
Network International jumped 16% to 505.80 pence at 8.09am in London. The Dubai-based company sold 200 million shares for 435 pence each, according to a statement yesterday. Mastercard Inc bought an additional 49.95 million shares as cornerstone investor. The IPO price gave the company a market value of £2.18bil.
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