ECSoft proposes to make a secondary public offering of approximately two million shares on the Nasdaq exchange and also to apply for a listing of its ordinary shares on the London Stock Exchange.
The aim of the #1 million flotation is to raise money for working capital and general corporate purposes. About one million of the ordinary shares will be offered by the middleware supplier and the rest by shareholders, while the underwriters will be granted an over-allotment option to purchase up to an additional 300,000 shares. The prospectus is expected to become available on 8 June.
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