Payment processing firm Network International said today it expects its float in London to value the company at between £1.9bn to £2.3bn.

The Dubai-based company, which operates in 50 countries across the Middle East and Africa, has set the price range for the offer at 395p to 465p per share.

Read more: Network International plans to float on London Stock Exchange

The selling shareholders are Emirates NBD Bank and private equity firms Warburg Pincus and General Atlantic.

The expected institutional offer is at least 125m shares, resulting in a free float of at least 25 per cent of the companys shares.

Additionally, Citigroup Global Markets has been granted an over-allotment option to purchase a maximum of 15 per cent of the total number of institutional offer shares.

Read more: Lendinvest taps three banks for £500m London float

Mastercard had previously announced it plans to invest $300m (£229m) as a cornerstone investor in the initial public offering (IPO).

Citigroup is acting as sole sponsor, joint global co-ordinator and joint bookrunner, Emirates NBD Capital, JP Morgan Cazenove and Morgan StanlRead More – Source

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