Financial Services software company, Lynx Financial Systems is proposing to raise £30 million by floating shares on the Alternative Investment Market of the London Stock Exchange.
The company will be known as AttentiV Systems Group plc but will continue trading as Lynx Financial Systems for the near future.
David Webber, chief executive of AttentiV, comments: "A stockmarket listing makes perfect sense for this company. The additional funds, increased profile and corporate independence will help us to continue our growth and to capitalise on our already strong market position."
Lynx Financial Systems has developed two suites of products for the asset finance and debt collection markets, Summit and Portfolio.
Over 45% of the UK’s building societies currently use Summit. According to figures from the Council of Mortgage Lenders, over 20% of new mortgage lending in the UK in 2002 was processed on systems provided by Lynx FS.
Portfolio is currently used by 15 organisations providing other forms of asset-backed finance such as vehicle or equipment leasing, personal loans and debt management services.
Lynx FS also has experience in building tailor-made systems for specific customers, most notably for Intelligent Finance.
In the year ended 30 September 2003, Lynx FS achieved sales of £25.7 million and an operating profit of approximately £2 million, after adjusting for exceptional items and inter-group charges.
The firm employs 390 staff at three locations across the UK.