Stock watch - Aran Software

Aran is to float on the UK Alternative Investment Market (Aim). It is placing 3.3 million shares at 114p each, valuing the company at #8 million. Aran hopes to raise #3.6 million, of which #1.9 million will go into development. It forecast turnover for the year of #4.2 million and a profit of #223, 000, which included research and development spend of #1.07 million.