NDS Group Plc, the London-based broadcasting software subsidiary of media mogul Rupert MurdochÆs News Corporation Ltd, will float on Nasdaq and Easdaq today in a bid to raise $180m. The nine million shares, representing 17.6% of the total, are priced at $20 per share, giving NDS a market capitalization of over $1bn. There is a green shoe option for a further 1.3 million shares. The shares are spread between institutional investors in Europe and retail investors in the US. NDS will use the money to pay back money invested by News Corp. NDS has developed broadcasting software for television or PCs that lets broadcasters verify that paying subscribers are the only ones watching. Its software also enables users to record programs on favorite topics automatically. Morgan Stanley Dean Witter acted as lead manager.
