Dublin-based travel industry software provider Datalex plc announced on Friday that it will list on the Irish stock exchange and on Nasdaq, hoping to achieve a value up to $500m. It plans to raise up to $100m from the issue. Last year, the company made a pro forma loss of $30m on turnover of $18.5m, with internet travel software and consultancy accounting for 60 per cent of turnover. Its total funding to date is about $90m.
The company has filed a registration statement with the US SEC and printed a preliminary prospectus for an initial public offering of 16,775,000 ordinary shares and American Depositary Shares with an estimated price range of Euro 7.16 to Euro 8.31 per ordinary share, in the form of ordinary shares or $12.50 to $14.50 per ADS. The ADS's are expected to trade on the Nasdaq National Market under the symbol "DLEX".
Dublin-based Datalex plc is one of the leading providers of e-business infrastructure and solutions for the global travel industry. The Company offers a range of products and services to travel suppliers and distributors throughout the industry, including airlines; travel agencies and tour operators; Internet travel providers and portals; and rail and other travel providers.
Datalex intends to use the net proceeds from this offering for general corporate purposes, including marketing, brand development, expansion of research, development and technical resources, geographical expansion, possible future acquisitions, as well as working capital. The company's most recent purchases include Sight & Sound of Portland, Oregon, which makes software tools used by systems integrators to build internet booking sights, and Manchester-based Teamworks, which supplies fare calculation software.
Credit Suisse First Boston is acting as sole Global Coordinator and Bookrunner and Goodbody Corporate Finance is acting as Sponsor. Datalex has appointed a syndicate of banks to assist Credit Suisse First Boston in the Offering, which comprises Goodbody Stockbrokers and Robertson Stephens.
Datalex recently announced that ebookit.com, a leading Pan Asian travel provider, has launched a new Asian travel portal using the company's latest Internet travel technology. The contract represents an important expansion for Datalex into the exploding Asian IT travel market.
The core of the new portal is the Datalex BookIt! Consumer Internet Booking Engine which has an integrated private fares database, BookIt! Fares. The ebookit site will be hosted at the Datalex e-hosting facility in Atlanta, Georgia, which offers a climate controlled environment with fail-safe systems, high-level security and reliable Internet connectivity.
Datalex also supplies software to Thomas Cook, the travel agent, and Amadeus, the airline reservation system. Two of its customers, American Airlines and Delta Air Lines, last year accounted for 25 per cent of all airline tickets sold on the internet worldwide, according to Neil Wilson, Datalex's chief executive. Neil Wilson set up Datalex 15 years ago with partner Steve Metzler.
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