Technology giant Misys could be sold rather than try for another initial public offering (IPO) after last year’s pulled London float, sources have said.
The private equity owner of Misys is understood to be keeping its options open for exiting the technology company, with a listing in New York also being explored.
Vista Equity Partners withdrew its plans to list Misys on the London Stock Exchange last October, after previously being forced to cut the value of the company from £5.5bn to £4.5bn.
The pulled IPO was blamed on uncertainty in the market following the UK’s Brexit vote.
Nadeem Syed, the chief executive of Misys, which was delisted from the London market when acquired by Vista in 2012, indicated earlier this year that he is keen to float the company, without specifying where and when. He told Bloomberg in January: “The destination is a public company.”
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Sources have told City A.M. the company is currently exploring the possibility of floating in London or New York, but that Vista could also seek to sell the firm. No decision has yet been made.
The FT reported that Misys is considering a listing on Nasdaq in the US.