Accounting software company Visma plans to list in London early next year, with an expected valuation of around £16 billion.
The Norwegian company's British private equity owners, Hg, preferred the London Stock Exchange over Amsterdam for the initial public offering, the Financial Times reported.
Visma is a provider of business software, with 14,000 employees and over 1.4 million customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, generating annual revenues of over €2 billion.
The FT report said Visma chose to float in London because of its deep capital markets but Visma and Hg will only proceed with the London as long as the UK government and London Stock Exchange follow through with reforms to listing rules.
Hg, which runs the HgCapital Trust (LSE:HGT), invested £82 million in 2006 as part of a deal to take Oslo-listed Visma private at a valuation of about £382 million, and has since then completed a number of bolt‐on acquisitions and other strategic investments.
In 2010 Hg sold Visma to KKR at a valuation of £1.2 billion and in 2017, HgCapital led a £4.2 billion buyout from KKR and Cinven, in what was Europe's largest software buyout at the time.