Interswitch Nigeria Sees Delayed IPO Concluded by End-2019

Akeem Lawal, Divisional CEO, Switching & Processing, Interswitch. Credit: SlimTrader

Interswitch Ltd., a Nigeria-based payments-processing company, expects to complete its delayed dual listing in London and Lagos before the end of 2019.

The initial public offering to raise as much as $1 billion had been scheduled for 2016 and was delayed because equity markets were not as “favorable as we would have liked,” Interswitch’s divisional chief executive officer for switching and processing, Akeem Lawal, said in an interview.

“We will come back to it because it is an important part of our strategy,” Lawal said on the sidelines of a conference in Nairobi, Kenya’s capital. “It will happen before the end of 2019.”

Lawal was in Nairobi to promote Interswitch’s use of quick-response, or QR, codes to drive merchant payments using mobile phones.

Read more: Interswitch Nigeria Sees Delayed IPO Concluded by End-2019 – Bloomberg

Recommended