Visma Weighs London IPO Valued at €20bn with Potential Sir Ron Kalifa Chairmanship
Visma is considering a London initial public offering (IPO) valued at about €20bn (approximately £17.6bn), potentially taking place next spring. The company is also evaluating Stockholm as an alternative listing venue, with no final decision yet made. London poses more risk given the scarcity of large IPOs there in recent years. The choice of venue could influence governance decisions and the leadership structure.
Sir Ron Kalifa, former Worldpay CEO and former director at the Bank of England, is the leading candidate to chair Visma if the listing proceeds in London. The offer may be contingent on this London listing materialising. Kalifa's experience includes a £9.3bn sale of Worldpay to Vantiv in 2017 and authoring a 2021 government fintech report that highlighted London as a key destination for fintech investment.
Visma has been backed by Hg Capital for nearly two decades, a significant factor affecting its listing strategy and credibility. The Oslo-based company is currently conducting early meetings with large fund managers to assess demand, preferences for the listing location, and governance arrangements. Its advisers include Goldman Sachs, Morgan Stanley, and UBS.
Øystein Moan, Visma's executive chair and former CEO, is likely to remain in his role, with upcoming governance and leadership announcements depending on the chosen listing venue.
