Damgaard Holdings A/S, the Danish software group, is planning a flotation on the Copenhagen Stock Exchange in 1999. The announcement follows an earlier split with IBM Corp in November when Damgaard bought back the computer giant’s 50% stake. At the time of the split, Damgaard said it was looking into the possibility of an IPO but had not come to a firm decision. The IPO is now certain and is expected in the first quarter of the new year. In preparation, the company has made a number of non-executive director appointments. Hans Werdelin, president and CEO of Sophus Berdensen A/S, was elected chairman of the newly constituted board at a General Meeting on November 30. The three other non-executive appointments are: Dennis Keeling, chief executive of BASDA the international trade association for software developers; Peter Max, former CEO of Microsoft Denmark and now the CEO of the Danish Payment System (PBS Holding A/S); and Vagn Thorop, a lawyer and partner in the law firm Krosmann & Munter.
