LONDON Oct 6 British banking software services
company Misys expects to raise around 500 million pounds ($636
million) when it returns to the London Stock Exchange in a
flotation planned for early November, it said on Thursday.
The London-based group delisted in 2012 when private equity
firm Vista bought it for 1.27 billion pounds. As part of the
return to the market, Vista may also sell down some of its
"I believe that the return to public markets as a larger,
more innovative and more effective company is a logical step in
our evolution," Chief Executive Nadeem Syed said.
Misys develops and licenses software to banks and investment
management firms and recorded a compound annual growth rate in
revenue and adjusted core earnings of 8 and 11 percent
respectively from 2014 to 2016.
In the year ended May 31, 2016, Misys generated revenue of
811.4 million euros ($908 million).
Goldman Sachs, BofA Merrill Lynch and J.P. Morgan Cazenove
are acting as sponsors and bookrunners.
($1 = 0.7866 pounds)
($1 = 0.8941 euros)
(Reporting by Helen Reid; Editing by Mark Potter)