Sequoia-backed Asa International announces London IPO

The microfinance lender is headquartered in the Netherlands and provides financial services to low-income individuals in developing countries in Asia and Africa. The customer base comprises 1.8 million underserved female entrepreneurs and small business owners, according to a statement.

Asa has a loan book of $299m and generated a profit of $29m for 2017 while employing 9,000 people.

The business expects a free float of around 25% and will not raise any expansion capital in the listing.

Sequoia expects to make an exit, selling shares through its holding company Catalyst Microfinance Investors, which is also backed by Dutch pension fund ABP according to press reports.

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