Network Technology is planning a u4 million flotation on the Alternative Investment Market in a placing that is expected to value the firm at u35 million.
The print server and networking components manufacturer intends to place u4 million of shares with institutional investors. Founders Klaus Bollmann and his wife, Hanne, will hold a u21 million stake when the UK-based firm is floated.
Sources say the money will be used to fund expansion and to pay off preference capital owned by venture capital group 3i.
Network Technology is forecasting revenues of u16 million for fiscal 1996 with pre-tax profits of u3.3 million, having made profits of u1.5 million in the half year to March 30.
Over the past three years, the company's turnover has grown from u1.6 million to u8.1 million. Profits over the same period have risen from u169,000 to u1.3 million.
The firm claims a 40 per cent share of the world's print server market and supplies over 15 major Japanese and US printer vendors, including NEC, Ricoh, Xerox and Epson.
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