Offering to subscribe for shares in NeoNet fully subscribed
10/13/2000 9:07 AM EST
The offering to subscribe for shares has been fully subscribed
Estimated first day of listing 20 October 2000 on the OM Stockholm
Exchange's O-list
The offering to subscribe for shares in the IPO of NeoNet AB (publ) was
fully subscribed. The price has been determined within the indicative
interval to SEK 20 per share.
During the application period the general conditions on the financial
markets have weakened significantly. There has, though, been great
interest in NeoNet and its operations both in Sweden and internationally.
The new share issue of 8.0 million shares will raise SEK 160 m for NeoNet
before deduction of issue expenses. Existing principal shareholders in the
company have subscribed for approximately 1.2 million shares in the
offering. The total number of shareholders will be approximately 1.400 at
the time of listing.
"I am very pleased that the interest from the institutional investors has
been strong. Not least since they are potential future clients to the
company", says Torvald Bohlin, President and Chief Executive Officer of
NeoNet.
Payment is due on 19 October 2000. First day of trading is expected to be
on 20 October 2000 at OM Stockholm Exchange's O-list with the ID "NEO".
ArosMaizels is adviser to NeoNet in connection with the listing.
For further information please contact:
Torvald Bohlin
President and CEO of NeoNet AB (publ)
+46 8 454 15 39
+46 70 623 62 60
Staffan Persson
Chairman of the Board of NeoNet AB (publ)
+46 8 611 00 98
NeoNet is a leading provider of real time equity execution services for
institutional investors and broker-dealers. Through its Electronic
Execution Network NeoNet provides its clients with efficient, secure and
anonymous access to currently 25% of the equity market capitalization in
Europe. NeoNet focuses on providing single access to multiple securities
markets worldwide.
NeoNet's operating revenues for 1999 was SEK 86.4m with an operating
profit of SEK 12.5m. NeoNet has 58 employees and offices in Stockholm and
New York.
www.neonet.se