German vendor of e-commerce products for banking, brokerage and payment over the internet, Brokat Infosystems AG, will today announce the starting price for its shares, which will debut tomorrow on Frankfurt’s Neuer Markt. The company’s initial public offering involves some 2.5 million shares, 1.5 million of which are new issues while the remaining 800,000 will come from existing shareholders. The two financial institutions handling the IPO, Dresdner Bank of Germany and Paribas from France, announced last week the price range for the bookbuilding process. The shares are priced at DM53-DM64 ($29.45-$35.55), and the company expects to net some $45m from the operation, which it intends to use to finance further expansion. The company is already present via subsidiaries in the US, the UK, Singapore and Switzerland, as well as operating sales offices in Ireland, Luxembourg, South Africa, Austria and Australia. Brokat, whose core product is the Twister e-commerce platform, reckons to have around 76% of its market segment in Germany, and foreign revenues are becoming increasingly important to the company, representing 35% of the total sales in 1997.
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