Supercom Ltd, a Tel Aviv, Israel-based developer and distributor of technology for the production of national identification documents, said Thursday that its April 23 initial public offering will be priced at between $9.50 and $11.50 per share. The company will float 2.5 million new shares and around 632,000 existing privately-held shares on Easdaq in an IPO which is expected to raise about $30m.
The offering, which gained approval from the Belgium Banking and Finance Commission last month, is expected to attract private investors from Belgium and institutional investors throughout Europe. The sale will be managed by KBS Securities and co-managed by Aros Securities, Beeson Gregory, RZB Bank and the Solid ISG Group. Supercom was founded in 1998 and has about 50 employees.
