Interswitch Hires JPMorgan for LSE Listing

• Interswitch Hires JPMorgan for LSE Listing

Interswitch, a Nigerian leading Fintech company, has revisited plans to list on the London Stock Exchange after falling short two years ago.

The Nigeria-based payments company has now hired JPMorgan, one of the world’s biggest investment banks, to perfect its listing process this time around.

According to Bloomberg, other companies working on the listing are Citigroup Inc. and Standard Bank Group Ltd. The financial technology is estimated to worth between $1.3 billion to $1.5 billion.

Interswitch, owned by Helios Investment Partners, will be the third Nigerian tech company to be listed on foreign stock markets this year after Jumia was listed on New York Stock Exchange and Airtel Africa made it to the London Stock Exchange and Nigerian Stock Exchange at the same time.

According to the people familiar with the listing, Interswitch is likely to list on both the London Stock Exchange and Nigerian Stock Exchange simultaneously.

That should further boost the NSE market capitalisation following MTN Nigeria and Airtel Africa listing this year.