A potential blockbuster is brewing in the world of European software giants, and it's got everyone talking. The €20 billion (£17.6 billion) London listing of Visma, one of Europe's largest software companies, could be a game-changer, but there's a twist!
Visma, backed by UK-based Hg Capital, is considering a top-notch candidate to chair its board if this massive IPO goes ahead next spring. Step forward Sir Ron Kalifa, a former boss of payments group Worldpay and a director of the Bank of England. But here's where it gets controversial...
While London is seen as the front-runner, Stockholm is emerging as a strong rival. Visma's Scandinavian roots and the recent successful €13.7 billion IPO of Verisure on the Swedish bourse are giving London a run for its money.
Sources close to the process emphasize that nothing is set in stone yet. Visma is gauging demand and investor preferences through 'early look' meetings with large fund managers. The company is being advised by heavyweights Goldman Sachs, Morgan Stanley, and UBS.
The potential recruitment of Sir Ron Kalifa could be a key factor in London's favor. His decade-long tenure as CEO of Worldpay and later as vice-chair saw the group thrive, emerging as a FTSE 100 company post-financial crash. A London listing would be a personal triumph for Kalifa, who authored a government report on boosting the UK's fintech sector, including strategies to attract companies to London.
However, Visma's not a pure tech company, but it's betting big on AI to "simplify and automate complex processes" in the coming years. With 2.2 million customers and 17,500 employees, Visma is a leading provider of "mission-critical business software" outside North America.
So, will London secure this highly sought-after listing? Or will Stockholm pull off an eleventh-hour win? And this is the part most people miss... It's not just about the listing venue; it's about the impact on the UK's fintech sector and the potential for AI-driven innovation.
What do you think? Should London be the chosen destination for Visma's IPO? Or is Stockholm a better fit? Let us know your thoughts in the comments below!
