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Pin to quick picksNetwork International Share News (NETW)

Share Price Information for Network International (NETW)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 393.20
Bid: 393.40
Ask: 393.60
Change: -0.60 (-0.15%)
Spread: 0.20 (0.051%)
Open: 395.00
High: 395.00
Low: 393.20
Prev. Close: 393.80
NETW Live PriceLast checked at -

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Network International raises £205m in placing for DPO acquisition

Wed, 29th Jul 2020 08:51

(Sharecast News) - Payment solutions provider Network International has raised around £205m in a discounted placing to buy African online commerce platform DPO Group.
The shares were placed at 410p each, which is an 8.9% discount to the closing share price of 450p on Tuesday.

Announcing the placing and acquisition late on Tuesday, the company noted that DPO, which is being bought for $288m (£222m), is the largest online commerce platform operating at scale across Africa.

It said the deal consolidates and accelerates its presence in Africa, which is the most underpenetrated and fast growing payments market in the world. Africa is expected to represent around 40% of Network International's total revenue by 2024 versus 27% in 2019, giving the group "an evenly balanced business in Africa across merchant and issuer solutions".

The acquisition is expected to be broadly earnings per share neutral in 2022, including integration costs. But Network said there would be double-digit return on capital employed within three to four years, "and significantly higher thereafter".

Chief executive officer Simon Haslam said: "DPO will further consolidate our presence in Africa, strengthen our position across the entire payments value chain and accelerate our growth. This acquisition will widen our capabilities across online, mobile and alternative payments; bring an extensive and diverse range of direct merchant relationships to our business; and provide a wider range of solutions for our existing customers.

"Together, we have a powerful combination to accelerate digital payments across our regions and deliver significant shareholder value."

At 0900 BST, the shares were down 8.9% at 410p.

More News
Today 10:38

Network International profit falls as costs outpace revenue growth

(Alliance News) - Network International Holdings PLC on Thursday noted a challenging external economic environment but highlighted that the longer-term outlook remains positive.

Read more
27 Mar 2024 10:50

Network International Holdings agrees to extend acquisition date

(Alliance News) - Network International Holdings PLC announced on Wednesday that the deadline for its acquisition by BCP VI Neptune Bidco Holdings Ltd has been extended.

Read more
15 Mar 2024 20:48

EARNINGS AND TRADING: Cornish Metals CEO departs; Major Nexxen buyback

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
15 Mar 2024 19:46

IN BRIEF: Network International extends completion date of takeover

Network International Holdings PLC - London-based Middle East and Africa-focused payments provider - Updates on planned takeover by Brookfield Asset Management Ltd. Confirms that regulatory change of control clearances for the acquisition have been received from the Central Bank of Jordan, the Bank of Ghana, the Bank of Botswana and the Reserve Bank of Malawi. Stresses Network and Brookfield remain committed to completing the deal as quickly as possible and continue to engage positively with the Central Bank of the United Arab Emirates and the relevant regulatory authorities in other jurisdictions where clearances remain outstanding, including Kenya, Nigeria and Saudi Arabia. In light of this continued engagement, extends the long stop date for the deal to become unconditional and effective from April 9 to October 9.

Read more
10 Aug 2023 09:37

Network International profit rises as awaits takeover by Brookfield

(Alliance News) - Network International Holdings PLC on Thursday reported higher profit in the first half of 2023, amid growth in Africa.

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10 Aug 2023 08:03

Network International posts big increase in 1H sales and free cash flow

(Sharecast News) - Network International posted big increases both on its topline and in free cash flow for the half.

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28 Jul 2023 15:47

UK shareholder meetings calendar - next 7 days

Monday 31 July 
B90 Holdings PLCAGM
Barryroe Offshore Energy PLCEGM re proposed cancellation of admission to trading on AIM
Live Co Group PLCAGM
OnTheMarket PLCAGM
Tintra PLCAGM
Tuesday 1 August 
Bonhill Group PLCGM re members' voluntary liquidation
Deltex Medical Group PLCGM re placing and subscription
Syncona LtdAGM
Wednesday 2 August 
Bushveld Minerals LtdAGM
Sequoia Economic Infrastructure Income Fund LtdAGM
Wizz Air Holdings PLCGM re proposed purchase
Thursday 3 August 
Distil PLCAGM
Edenville Energy PLCAGM
Future PLCGM re authorising the company to buy back up to 10% of shares
Investec PLCAGM
Landore Resources LtdEGM re dual-listing in Canada
Ukrproduct Group LtdAGM
Friday 4 August 
East Imperial PLCGM re issue of 2025 convertible loan notes
Myanmar Investments International LtdAGM
Network International Holdings PLCGM and court meeting re takeover by Brookfield Asset Management Ltd
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
12 Jul 2023 08:50

IN BRIEF: Network International to hold votes on Brookfield offer

Network International Holdings PLC - Middle East and Africa-focused payments provider - To host court meeting and general meeting on August 4, so shareholders can vote on the takeover offer from Toronto-based private equity firm Brookfield Asset Management Ltd. The offer requires approval from 75% of voting shareholders at both meetings. In early June, Network International said Brookfield will pay 400 pence per Network International share, a 64% premium to Network International's 243.6p share price at the close of play on April 12, the day before Network International first received buyout interest. The takeover offer gives Network International an equity valuation of GBP2.2 billion.

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12 Jun 2023 09:11

CVC Advisors will not make takeover offer for Network International

(Alliance News) - CVC Advisers Ltd and Francisco Partners Management Ltd on Monday said it no longer intends to make a takeover offer for Network International Holdings PLC.

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12 Jun 2023 08:02

CVC consortium not planning to bid for Network International

(Sharecast News) - CVC Advisers and Francisco Partners Management said on Monday that they do not plan to make an offer for payments firm Network International.

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12 Jun 2023 07:53

LONDON BRIEFING: Shares on the rise; Frasers buys into AO World

(Alliance News) - Stocks in London were set to open higher on Monday, at the start of a busy week of central bank moves.

Read more
9 Jun 2023 17:03

LONDON MARKET CLOSE: FTSE 100 lower as interest rate decisions loom

(Alliance News) - Stocks in London ended largely in the red on Friday as investors look ahead to a busy two weeks of central bank interest rate decisions with trepidation.

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9 Jun 2023 12:17

LONDON MARKET MIDDAY: Europe slips in pre-central bank jitters

(Alliance News) - Stock prices in Europe wobbled on Friday, with investors nervously awaiting next week's US inflation report and central bank decisions there and in the EU and Japan, while eyes turn to the New York open after a bullish run for the S&P 500 index continued on Thursday.

Read more
9 Jun 2023 09:27

TOP NEWS: Network International backs GBP2.2 billion Brookfield offer

(Alliance News) - Network International PLC on Friday said it agreed to a takeover from entities backed by Toronto-based private equity firm Brookfield Asset Management Ltd.

Read more
9 Jun 2023 09:03

LONDON MARKET OPEN: Tepid trade ahead of central banks; Croda slumps

(Alliance News) - Stock prices in Europe opened mostly lower on Friday, failing to replicate a rally seen on Wall Street, where stocks were spurred on by a weak US jobless claims reading that reinforced expectations that the Federal Reserve will decide against an interest rate hike.

Read more

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