20/09/2005 SQS opens the London markets
SQS Software Quality Systems AG opens the London markets
20 September 2005
The London Stock Exchange is delighted to welcome SQS Software Quality Systems AG to AIM.
SQS is the first German company to have a primary quotation in the UK, and is one of the largest independent European providers of software testing and quality management services by turnover. SQS offers a range of consulting services for enterprise and technical software systems to its clients, who include blue chip companies in a variety of industries, including financial services, telecommunications, logistics and manufacturing. SQS provides and develops testing and quality management services for both emerging and existing technologies and services to meet evolving business requirements.
The company is raising approximately £10.78 million before expenses through a placing at 190 pence per share. On completion of the placing, the company will have a market capitalisation of approximately £30 million at the placing price.
Commenting on the flotation, Rudolf van Megen, CEO said:
“We are proud to be the first Germany company to have its primary listing in the UK and are delighted by the overwhelmingly positive response to our fund raising in both Germany, Belgium and the UK. SQS is now extremely well positioned to take advantage of the market opportunities in outsourcing of software testing as “managed test factories” and we look forward to growing the SQS business both organically and through acquisition.”
Evolution Securities Limited acted as nominated adviser, broker, lead arranger and joint bookrunner and Sal. Oppenheim jr. & Cie. KgaA acted as selling agent and joint bookrunner to SQS.