17 August 2017
visit www.avoka.com

Norkom Technologies begins trading on IEX and AIM

26 June 2006  |  3782 views  |  0 Source: Norkom Technologies

Norkom Technologies was today admitted to the IEX and AIM markets of the Dublin and London stock exchanges.

Following a successful round of fundraising, the company listed with a share price of US$1.56, giving it a market capitalization of US$126million. The company raised gross proceeds of US$26.4million through a placing of new and existing Norkom ordinary shares.

Norkom's successful IPO follows several years of significant revenue growth and constant profitability. The company has become a significant player in the global Financial Crime and Regulatory Compliance marketplace, achieving the market leading position in Europe. The funds raised through the IPO will be used to build on Norkom's success to date, fund strategic acquisitions and strengthen its market leading position.

Speaking about the IPO, Paul Kerley, Norkom CEO, said "We are delighted with the successful outcome of this offering. The fundraising and admission to AIM and IEX represents a new phase in Norkom's development. The combination of our strong product offering, our internationally recognized blue chip client base and the domain expertise of our people means we are well positioned to become global leader in the high growth financial crime prevention software market. Admission to the AIM and IEX markets will fuel our growth and support our commercial strategy which includes the pursuit of targeted acquisitions."

The market for financial crime prevention and compliance solutions was estimated to be US$3.7 billion in 2005 and is expected to grow to US$5.1 billion by 2008.

Norkom has experienced significant growth of 49% in the last year, with revenues increasing from US$15.2 million for the year ended 31 March 2005 to US22.77 million for the year ended 31 March 2006. The Group has been profitable and cash generative for the last three financial years, and for the year ended 31 March 2006 generated EBITDA of US$4.2 million.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10323 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9700 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9579 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8528 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8002 views comments | 1 tweets | 2 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job