Baan Co NV, the Ede, Netherlands manufacturing software specialist, has decided to float in New York and has filed with the US Securities & Exchange Commission for a global initial public offering of 6m common shares, 4m of them new. It is looking for $42.79m proceeds, implying a target price in the $12 to $14 range, and will use it for working capital, including continued build-up of its North American operations and increasing its sales and marketing staff. Of the 6.0m shares, 4.5m will be offered in the US and 1.5m will be offered in a concurrent interational offering.The underwriters are Goldman, Sachs & Co, Morgan Stanley & Co Inc, Cowen & Co and UBS Securities.
