Micro Focus International to List on London Stock Exchange
UK software company, Micro Focus, plans to list on the London Stock Exchange in the first half of 2005. The company said that the IPO is expected to be by way of a placing to institutions. UBS Investment Bank and Goldman Sachs International have been appointed joint global co-ordinators of the global offer. In preparation for the planned listing Micro Focus has appointed Kevin Loosemore as non-executive chairman. Until 31 March 2005, Loosemore was chief operating officer of Cable & Wireless. Meanwhile David Maloney has been appointed as non-executive director. The IPO is expected to provide funding for future opportunities and to drive expansion. In addition, the IPO is expected to enable Micro Focus to achieve a more conventional capital structure for a growth business and an enhanced quoted profile.