Software firm WirTek seeks IPO on First North  

2006.05.26
WirTek, a Danish company specialising in software development for mobile telecommunication, has filed for an IPO on First North, a Copenhagen Stock Exchange market place for SMEs

WirTek, a Danish company specialising in software development for mobile telecommunication, has filed for an IPO on First North, a Copenhagen Stock Exchange market place for SMEs seeking expansion and development. WirTek expects to gain DKK 35 m (USD 6 m) in proceeds which will be used to finance the firm's international expansion strategy on markets such as Germany, Sweden and Finland.

Michael Aaen, managing director of Wirtek comments: "Wirtek already has a good business with an impressive growth curve. A supply of capital will enable us to realise our internationalisation strategy and so create the foundation for further growth. In its four and a half years of existence, Wirtek has proved its ability to grow and has been self-financing with a growth in revenues of 41% and in earnings of more than 50% in the last financial year."

GP Børsmæglerselskab will handle Wirtek's sales of shares via its online platform Capitrader. Wirtek expects to publish the approved prospectus at the beginning of June.

WirTek is based in Aalborg, northern Jutland. The firm's core competencies are in applications, infrastructure and embedded software for mobile telecommunication. Customers include Texas Instruments, Nokia, End2End and Novo Nordisk. The news was reported by Computerworld and on WirTek's website.

Link > WirTek 

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