Hg-Backed Software Firm Visma Is Said to Pick Banks for IPO (1)

Hg-backed software firm Vismahas picked banks for a potential initial public offering next year, setting the stage for the buyout firm to monetize one of its most successful investments, people familiar with the matter said.

The Norway-based software company has lined up Goldman Sachs Group Inc., Morgan Stanley and UBS Group AG to arrange the offering, said the people, who asked not to be identified as the information is private. Visma is provisionally planning to list in London, though details of the offering could still change, according to the people.

Visma was valued at €19 billion ($22.2 ...