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SumUp is preparing a potential London IPO, hiring major banks and targeting a $10 billion valuation, in a move that could revive the city’s struggling IPO market.
A successful listing would be a boost for London, which is still recovering from a lengthy drought in IPO activity. Software firm Visma AS, which was set to lead a revival this year, delayed its IPO plans to next year, Bloomberg reported. SumUp had also considered Amsterdam, Frankfurt and New York as possible listing venues, Bloomberg previously reported. The company could fetch a valuation of $10 billion or more, people familiar with the matter have said.
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