Altos Computer Systems Corp’s plans for a European flotation (CI No 1,065), are progressing at break-neck pace, and the company also plans a European engineering and design centre, which could lead to local assembly and eventually manufacture of its machines. The company says that it will decide within the next two weeks whether to buy a European engineering company or to establish one from scratch. The company also has not yet decided whether it will float its national subsidiaries individually, or the European division as a whole: either way, the parent back home in San Jose will retain a majority stake. It is currently discussing the options with unidentified merchant banks in London, but it is likely that any sale of shares will be by way of a placing with large institutions, with a local quotation following later on.
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