UAE-based Network International, an affiliated associate of Emirates NBD, a leading banking group has announced it is considering proceeding with an initial public offering (IPO) on the London Stock Exchange (LSE).

In the event Network’s shareholders decide to proceed with any transaction, further announcements will be made in due course in accordance with the applicable laws and regulations.

Network International has announced changes to its Board as part of the process of potentially becoming an independent business.

As it welcomes the new members, Emirates NBD acknowledges the instrumental role played by outgoing chairman, Abdulla Qassem in Network International’s 25-year-journey to becoming a global payments company, a statement said.

His exceptional leadership and invaluable guidance have shaped Network’s success and progress as a leading company in the payments domain, it added. – TradeArabia News Service