Network International, a UAE-based payment solutions provider backed by global private equity fund managers Warburg Pincus and General Atlantic, has completed its initial public offering (IPO) on the London Stock Exchange. The offering consisted of 250 million shares sold by Emirates Bank, Warburg, and General Atlantic at a price of GBP4.35 (approximately USD5.68) per share, generating gross proceeds of GBP1.1 billion (USD1.4 billion). Warburg and General Atlantic, which originally acquired a 49 percent stake in the company in 2015, sold a combined 122 million shares and retain a 24.5 percent stake following the offering. Global payments services company Mastercard acted as cornerstone investor in the IPO and acquired a 9.99 percent stake in Network International.