Israeli company Emultec Ltd is hoping to complete a share issue on Wall Street by the end of the month. The Israeli company that produces simulation software for embedded systems had planned the share issue for last December but postponed due to weakness in the market. The company will issue 2.8 million shares at a price in the range of $8-$10. The issue represents a sale of 26% of the overall share capital at a company valuation of $97m. The share offer is being underwritten by Gruntal and Evern Securities. The company finished the 1997 financial year with a loss of $4.3m after revenues of $4.6m (expenses of the delayed issue were included in last years financial results). Revenues for the first quarter were $1.7m resulting in a loss of $137,000.
