Interswitch, Nigeria’s pioneer fintech company, is hitting London Stock Exchange (LSE) and Nigerian Stock Exchange (NSE) later in the year for its long-delayed IPO (initial public offer), according to Bloomberg. The valuation has been pegged at $1.3 billion to $1.5 billion. In other words, it is a unicorn. There is nothing else to write except to challenge Interswitch to “just do it”. I predicted when Airtel Africa found dual homes in LSE and NSE that Interswitch will follow. Andela is next on the queue.
JPMorgan Chase & Co., Citigroup Inc. and Standard Bank Group Ltd. are among the firms working on an initial public offering, which may value the financial technology company at $1.3 billion to $1.5 billion, the people said, asking not to be identified because the deliberations are private.
Interswitch, owned by private equity firm Helios Investment Partners, has engaged with banks in recent weeks after a thwarted IPO attempt two years ago, the people said. The potential listing would follow those of two other major African and Middle Eastern tech company share sales this year. Jumia Technologies AG, dubbed the Amazon of Africa, listed in New York earlier this year, while Dubai-based payments firm Network International Holdings Plc went public in London.