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UK - General Atlantic to float Xchanging valuing it at £500m

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General Atlantic is to float portfolio company Xchanging, an outsourcing and processing portfolio company. The IPO is expected to value the group at approximately ТЃ500m with an indicative share price range of 210-240p per share. It is understood that General Atlantic will sell approximately half of its 70% holding in the company through the IPO, taking out in the region of ТЃ90m.

General Atlantic formed Xchanging in 1998 with £35m of backing. In 2001, it provided further expansion funding worth £25m increasing its stake in the company from 56% to 70%. It provided an additional £50m of expansion funding to be drawn down over an undisclosed period the following year.
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