Proha Publishes IPO Prospectus for Helsinki Listing Today

Computergram International, Sept 30, 1999

Finnish IT services and software company Proha Oy will today publish the prospectus for its planned listing on the Helsinki stock exchange. The Helsinki-based company provides project management services, where it represents the US company Artemis Management Systems Inc; software testing tools, where it represents Mercury Interactive Corp; and applications development. It had a net income of 1.9m markka ($340,000) on revenue of 18.8m markka ($3.34m) in the year ending February 28, 1999.

A spokesperson for the company said it will be issuing 700,000 new shares and offering another 400,000 existing ones in an initial public offering prior to the listing. The pricing period runs from October 4-8, and the first day of trading is expected to be October 15. An estimated price range for the offering will be published today.