Compliance software company, Norkom, is to seek a listing on London's AIM and the Irish Stock Exchange's IEX markets in June that could value the group at more than €100 million.
Norkom provides financial crime and regulatory compliance software that enables financial institutions to combat financial crime. Its solutions help these organisations to detect, analyse and investigate areas of financial crime such as money laundering, debit and credit card fraud, identity theft, market abuse, terrorist financing, and the illegal transfer of funds to named individuals and organisations.
Announcing the planned listing yesterday, Norkom chief executive, Paul Kerley, said the company was well placed to exploit the high growth potential in the financial crime software market.
"We are exploring options to accelerate our growth through the consolidation of competitors in the US and Europe and as such, an AIM and IEX admission will provide us with access to capital to enable us execute this strategy."
Norkom reported 49 per cent growth in the last year, with revenues increasing from €12.1 million for the year ended 31st March, 2005, to €18.1 million in the year to 31st March, 2006 . It has been profitable and cash-generative for the last three financial years.
Norkom has appointed Goodbody stockbrokers to act as its nominated adviser and broker to the admission.
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