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FIRM Issues Shares Prior to Stock Exchange Float
Online MR software provider FIRM, best known for its Confirmit product, is issuing 5.5m new shares and 1m secondary shares through an initial public offering. The offer is taking place in advance of the company's listing on the Oslo Stock Exchange, expected in early December.
The indicative offer price for the new shares is 16 to 19 Kroner (£1.39 to £1.65) per share. The offer period runs from November 21st to December 2nd.
Existing shareholders have undertaken to sell up to 1m of their own shares in connection with this new issue, but will not be obliged to sell if the final offer price is below the indicative price.
Earlier this month, FIRM submitted an application for public listing at the Oslo Stock Exchange (OSE), and expects to be listed by 6th December.
Bengt Thuresson, FIRM's Chairman, says: 'A stock exchange listing represents an important milestone for FIRM. The goal is to consolidate FIRM's equity capital in order to finance further profitable growth.'
The company's web site is www.confirmit.com.
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