MasterCard to invest $300 million in Network International IPO

Financial technology solutions that enable cross border and digital payments are of paramount importance when it comes to developing a region’s economy and business sector. Network International is one such UAE-based firm, owned by Emirates NBD, that specialises in payment products and services.

Recently, it signed an agreement with Mastercard, whereby the US financial services firm will make a $300 million investment in Network International’s planned London IPO.

Part of the agreement includes a strategic partnership between the companies to develop digital payment solutions and drive their adoption in Middle East and Africa. In addition, they will also establish shared development products and cross-referral arrangements for financial institutions, along with cyber intelligence tools and tokenisation solutions.

Mastercard announced that its $300 million investment is based on institutional investor terms, by which its ownership is limited to 9.99 percent, with a 24-month lock-up period and a 36-month standstill by which it cannot acquire additional shares without Network International’s board approval.

Read more about the agreement here.