Cambridge software group Autonomy, has announced a three-for-one stock split, paving the way for what analysts believe will be its debut on the London Stock Exchange.
Since it was floated on Brussels-based Easdaq in 1998, Autonomy's shares have rocketed, making its founder Dr Mike Lynch one of Britain's first Internet billionaires.
Ironically, Lynch had to borrow money from someone he met in a London restaurant to set up the company because of the refusal of the City to back him.
It has led him to turn his back on the London market - until now. The stock split will cut Autonomy's share price from the current $118.75 to about $39.50, improving liquidity and making the stock more attractive to private UK investors unused to dealing in shares worth more than $100 each.
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