(Alliance News) - Two major shareholders of Network International Holdings have decided to sell 85 million shares in total in the payments solutions business to institutional investors, joint bookrunner Citigroup Global Markets Ltd said late Wednesday.
Citigroup Global, Emirates NBD Capital Ltd, JP Morgan Securities PLC and Morgan Stanley & Co International PLC have been appointed by Emirates NBD Bank PJSC and WP/GA Dubai IV BV as joint bookrunners to sell shares in Network International.
The 85 million share sale is estimated to be worth GBP532.9 million at Network International's closing stock price of 627.00 pence each on Wednesday. However, the price per placing share will be determined through an accelerated bookbuilding process.
Emirates NBD Bank currently owns 112.2 million shares, or 22.4% stake, in Network International. WP/GA Dubai IV owns 101.3 million shares, or 20.3% stake.
Network International (NETW)