Thursday 06 October 2016 8:28 am

Misys: London’s biggest IPO of the year is on

Tech company Misys will return to the markets with an IPO in early November, the firm said today, in what is expected to be one of the biggest floats of the year in London.

The software company will list on the London Stock Exchange main market after a four year hiatus.

Now Vista Equity Partners, which took the company private in 2012 in a £1.3bn acquisition, plans a £500m listing of at least 25 per cent of the company suggesting at least a £2bn valuation, however, it's understood that is likely to be much higher, with estimates of as much as £6bn.

The float follows a slow year for listings as businesses largely held of with plans for going public because of the EU referendum.

Misys chief executive Nadeem Syed said it was "confident in the significant growth opportunities for the business".

"I believe that the return to public markets as a larger, more innovative and more effective company is a logical step in our evolution," he said.

Also coming down the IPO pipeline are waste giant Biffa, Telefonica's UK mobile network O2, Pure Gym and insurance website GoCompare. However, plans by Telefonica for a partial float of another part of its business, Telxius, were nixed after failing to muster up demand from investors.

Brokers on the Misys deal include Goldman Sachs, Bank of America Merrill Lynch and JP Morgan Cazenove as joint sponsors, global coordinators and bookrunners.