15/06/2005 Endace of New Zealand closes the London markets
Endace of New Zealand closes the London markets
15 June 2005
Endace is a network security company with a market leading technology providing solutions to companies and government agencies to guard against the growing volume and sophistication of viruses, hackers and other network attacks. The growing volume of data driven by increased Internet usage, high speed communications and data intensive applications is overwhelming current network security technologies. Endace addresses this problem providing a wide range of solutions for a broad range of network protocols and speeds.
The company raised approximately £8 million (net of expenses) through a placing of 4.9 million Ordinary Shares at a price of 162 pence per share. Endace is expected to have a market capitalisation of approximately £23 million on admission.
Professor Ian Graham, Executive Chairman, commented: “We are delighted to be the only New Zealand registered company to list on AIM and to have raised funds successfully in the current market.”
"The flotation of Endace will raise our profile internationally and allow us to market our leading network security solutions much more actively to our growing global customer base."
Panmure Gordon is appointed as nominated adviser, broker and sole bookrunner for the flotation.