Network International Holdings (NETW)

Sector:

Support

Index:

FTSE 250

393.20p
   
  • Change Today:
    -0.60p
  • 52 Week High: 397.00
  • 52 Week Low: 242.00
  • Currency: UK Pounds
  • Shares Issued: 532.75m
  • Volume: 2,504,576
  • Market Cap: £2,094.77m
  • RiskGrade: 349

Network International raises £205m in placing for DPO acquisition

By Michele Maatouk

Date: Wednesday 29 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Payment solutions provider Network International has raised around £205m in a discounted placing to buy African online commerce platform DPO Group.
The shares were placed at 410p each, which is an 8.9% discount to the closing share price of 450p on Tuesday.

Announcing the placing and acquisition late on Tuesday, the company noted that DPO, which is being bought for $288m (£222m), is the largest online commerce platform operating at scale across Africa.

It said the deal consolidates and accelerates its presence in Africa, which is the most underpenetrated and fast growing payments market in the world. Africa is expected to represent around 40% of Network International's total revenue by 2024 versus 27% in 2019, giving the group "an evenly balanced business in Africa across merchant and issuer solutions".

The acquisition is expected to be broadly earnings per share neutral in 2022, including integration costs. But Network said there would be double-digit return on capital employed within three to four years, "and significantly higher thereafter".

Chief executive officer Simon Haslam said: "DPO will further consolidate our presence in Africa, strengthen our position across the entire payments value chain and accelerate our growth. This acquisition will widen our capabilities across online, mobile and alternative payments; bring an extensive and diverse range of direct merchant relationships to our business; and provide a wider range of solutions for our existing customers.

"Together, we have a powerful combination to accelerate digital payments across our regions and deliver significant shareholder value."

At 0900 BST, the shares were down 8.9% at 410p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

NETW Market Data

Currency UK Pounds
Share Price 393.20p
Change Today -0.60p
% Change -0.15 %
52 Week High 397.00
52 Week Low 242.00
Volume 2,504,576
Shares Issued 532.75m
Market Cap £2,094.77m
RiskGrade 349

NETW Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
29.89% below the market average29.89% below the market average29.89% below the market average29.89% below the market average29.89% below the market average
37.78% below the sector average37.78% below the sector average37.78% below the sector average37.78% below the sector average37.78% below the sector average
Price Trend
76.91% above the market average76.91% above the market average76.91% above the market average76.91% above the market average76.91% above the market average
60.40% above the sector average60.40% above the sector average60.40% above the sector average60.40% above the sector average60.40% above the sector average
Income Not Available
Growth
20.77% above the market average20.77% above the market average20.77% above the market average20.77% above the market average20.77% above the market average
10.00% above the sector average10.00% above the sector average10.00% above the sector average10.00% above the sector average10.00% above the sector average

NETW Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 953,131 @ 393.20p
16:35 1,141 @ 393.20p
16:35 1,141 @ 393.20p
16:35 10,912 @ 393.20p
16:35 43,981 @ 393.20p

NETW Key Personnel

Chair Ron Kalifa

Top of Page