Considering the dramatic rerating given to Borland International Inc’s shares last week as news of its impending flotation sank in, there could well still be some excitement left in Micro Focus Plc shares: the not-so-old Coboller is tipped to seek a New York listing for its shares shortly, and while they have had a very good run-up this year, closing at 415 pence, up 27, on Tuesday, they are still well shy of their pre-fall-from-grace high of 980 pence in 1984; why should the prospect of a US listing bolster the share price? Simply that software companies are much better understood and much more keenly analysed in New York than in London, and are rated more highly.
