Brokat Becomes Ag And Prepares For Ipo

Computergram International, July 24, 1998

German vendor of e-business solutions for banking, brokerage and payment over the internet Brokat GmbH has become a public company, called Brokat Infosystems AG, and is preparing an initial public offering. The company, which was founded in Stuttgart in 1994, has enjoyed rapid growth in recent years: from $1.38m two years ago, its sales rose to $5.8m in 1997 and are predicted to more than double this year.

Few details have yet been defined regarding the IPO, which sources close to the company say it hopes to carry out by the end of this year. Neither the volume nor price of the shares to be issued has been determined, nor the financial institution(s) handling the operation.