German IT consultancy and systems integrator SVC Schmidt-Vogel Consulting AG will debut on Frankfurt’s Neuer Markt small cap exchange today, following an initial public offering of 2.5m shares at 18 euros ($19.43) each. The shares represent 22.6% of the company’s total capital, valuing the Bielefeld-based company 203m euros ($219m). Of the stock on offer, 1.27 million are new shares, so that the IPO will raise some 23m euros ($24.8m). SVC is primarily an SAP implementer, so much so that the ERP giant holds 18% of its capital. It also engages in consultancy and has some of its own software related to R/3 implementations. The company reported a pre-tax profit of DM3.67m ($2.03m) on revenues that rose 78% to DM72.8m ($40.19m) for 1998.
