Misys moves closer to London's biggest float of 2016 by appointing City advisers

William Turvill
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Misys is said to be planning a £5.5bn float in London (Source: Getty)

Misys has appointed City advisers for what would be the biggest stock market float in London this year.

The banking software developer, which is owned by US buyout firm Vista Equity Partners, is planning a £5.5bn initial public offering (IPO).

Read more: Misys could return to the stock exchange

City A.M. has confirmed a report that Misys has appointed investment adviser Moelis to oversee the float.

The Sunday Times first reported Misys was plotting the IPO, which would be London’s biggest since Worldpay’s £6bn IPO in October last year.

Misys and Moelis have declined to comment.

Read more: Ready, Aim – float: IPO activity on London's junior market is booming

This year has been a slow one for flotations, particularly by larger companies. While listings on the alternative investment market (Aim) are up on last year, activity is significantly down on the main market.

Experts have pointed to uncertainty around the EU referendum in the first half of the year as one reason. And since the Brexit vote, some firms have withdrawn plans for IPOs.