Dealogic set for May IPO
14 April 2004 | 1670 views | 0
Capital markets technology and data vendor Dealogic is to list on London's Alternative Investment Market next month in a flotation that is expected to value the UK-based firm at £180 million.
The 21-year old company delivers software and communications services to investment banks across a wide range of activities, from origination to completion of capital markets transactions including marketing, bookbuilding, pricing and regulatory compliance. The company employs 300 people from offices in London, New York, Tokyo and Hong Kong, and claims some 600 customers.
Turnover for the year ended 31 December 2003 was $50.7 million with a profit before tax of $21.1 million.
Existing shareholders are expected to sell shares representing about 15% of Dealogic's market value at the IPO. The company says that it does not plan to raise any money from the flotation.