Interswitch Nigeria Sees Delayed IPO Concluded by End-2019
- Offer to raise about $1 billion initially scheduled for 2016
- Company to expand code-scan payments into 12 African nations
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Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.
The initial public offering to raise as much as $1 billion had been scheduled for 2016 and was delayed because equity markets were not as “favorable as we would have liked,” Interswitch’s divisional chief executive officer for switching and processing, Akeem Lawal, said in an interview.