Misys plans stock market return in a £5.5bn listing as IPOs revive after Brexit

Financial software firm Misys plans to return to the stock market in what is set to be the biggest UK flotation this year, valuing the group at around £5.5bn ($7bn, €6bn).

The business, which provides software to major banks such as Lloyds Banking Group, Barclays and HSBC, plans to list next month – just four years after it was taken private by Vista Equity Partners in a £1.3bn deal.

Misys, which has 2,000 clients around the world, aims to raise about £500m and list about 25% of its stock.

The move adds to a growing list of flotations in recent months as firms seek to revive investor appetite in the British IPO market, which was stagnant in the run up to June's Brexit vote.

Since then price comparison site GoCompare, waste management group Biffa, fitness chain PureGym and Hollywood Bowl have all confirmed plans to list. However, these IPOs are relatively small and are expected to attract valuations of £1bn or under.

Among bigger potential flotations, Telefónica, the Spanish telecoms group, is considering listing its UK arm O2, which could be valued as high as £10bn.

Misys chief executive Nadeem Syed said: "We provide mission-critical solutions to our customers and Brexit doesn't change the need to adapt to regulation and serve our customers better."

"This is our backyard and we believe the UK is still open for business."

Misys, which has more than 4,600 employees, traces its roots back to 1979 when it was founded as a computer systems supplier to UK insurance brokers.