Misys, a software provider to some of the world’s largest banks, plans to return to London’s stock market.

The financial technology firm hopes to raise £500m with an IPO on the LSE, which would value the firm at £5.5bn.

Misys was delisted from the FTSE 250 in 2012 when it was bought by Vista Equity Partners.

The business plans to use the listing proceeds to pay down debt and for investment.

Nadeem Syed, Misys’ chief executive officer, played down fears that now was a risky time to list its shares following the Brexit vote.

"This is an exciting step for our business, at a time when the financial services industry is undergoing a historic technological shift, driven by regulatory change, a greater focus on risk management and emerging technologies,” he said in a statement.

“I believe that the return to public markets as a larger, more innovative and more effective company is a logical step in our evolution.”

The firm’s IT platforms cover retail and corporate banking, lending, treasury, capital markets, investment management and enterprise risk.

Shares could start trading as early as November 2016.