Avaloq prepares for sale - Reuters

Avaloq prepares for sale - Reuters

With its largest shareholder looking for an exit, Swiss fintech house Avaloq has begun exploring a sale or initial public offering, according to Reuters.

Citing sources, Reuters says private equity giant Warburg Pincus is likely to begin the process of auctioning off its 45% stake in Avaloq early next year.

Warburg Pincus bought an initial 35% stake in Avaloq in March 2017 in a deal valuing the Swiss core banking firm at CHF1 billion.

However, news that the PE firm is moving on comes as no surprise; earlier this year Avaloq CEO Juerg Hunziger said the firm is preparing for a sale or IPO within four years.

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