Vista Equity-backed Misys scraps £3.5bn London IPO

The IPO cancellation comes a week after unquote" reported the business had requested permission to reduce its free-float from 25% to 20%, amid rumours Misys had slashed £1bn of its prospective valuation.

In a statement, Misys said it had "decided not to proceed with its potential initial public offering at the current time due to market conditions," while claiming it had seen "encouraging institutional support". However, the Financial Times reported the company's revenues had fallen by around 5% in the past two years.

Misys's decision is the latest example of the turbulent economic environment following the UK's vote to leave the EU and how it has affected private-equity-backed businesses looking to list.

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• Topics
• Performance
• UK / Ireland
• United Kingdom
• Vista Equity Partners
• IPO