Back of the Nets: This Nordic fintech company is planning a £626m IPO

 
Emma Haslett
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You might not have heard of Nets, but if you've been to Scandinavia recently, chances are you've used its digital payment services.

Today the Nordic payments company unveiled plans to launch an IPO on Nasdaq Copenhagen, aka the Copenhagen Stock Exchange.

Read more: These are the seven fintech startups being backed by Mastercard

In a statement this morning, it said it's planning to raise 5.5bn kroner (£626m) through the listing, largely to pay down debt.

The company is currently owned by majority shareholders Advent International and Bain Capital, as well as ATP Private Equity Partners and Via Venture Partners, but this morning it said investors will take the opportunity to sell-down some of their shares.

"The IPO... is the next step in the development of the Nets group following a period of rapid growth and considerable investment, during which the business has been transformed," said Bo Nilsson, the company's chief executive.

"Our ambition when we invested in 2014 was to help build the Nordics Payments Champion and it's clear that Nets is now not only that but one of the best payments companies in the world," added Robin Marshall, a managing director at Bain.

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