PeachTree Software Inc, a wholly-owned subsidiary of the New Jersey-based computer services company, Automatic Data Processing Inc, has filed a registration statement with the Securities and Exchange Commission for an initial public offering of up to $140m in common stock. The offering will be handled by investment bankers Lehman Brothers and Salomon Smith Barney. Peachtree, which produces accounting software for small businesses, says the money raised will be used for working capital and other general corporate purposes. PeachTree is to trade on NASDAQ using the stock symbol PEAC. Details of amount of stock to be offered and estimated initial offering price were not released.
