€19bn Visma picks London for tech IPO in rare win for UK stock market

Norwegian software firm Visma has provisionally picked London for its IPO next year. It could mark a rare win for the UK’s troubled stock market — if Downing Street pulls through on its promised reforms. 

British private equity firm Hg acquired a 70% stake in Visma in 2006 at a £380mn (€445mn) valuation. The company, which makes accounting, payroll, and HR software products, is now worth an estimated €19bn. 

Visma previously considered listing in Amsterdam but has since turned its sights to the British capital, according to the Financial Times. 

Its IPO would run counter to the recent trend of companies shifting their primary listing away from the London Stock Exchange (LSE), delisting entirely, or bypassing the exchange in favour of New York.

Earlier this month, British fintech Wise said it would move its primary listing to New York. UK chip designer Arm chose to go public there in 2023 ...