Accounting software company Reckon will list on the Australian Stock Exchange (ASX), it announced yesterday with the launch of its Initial Public Offering (IPO).
The IPO will raise $59 million, with 56.3 million shares being offered at a retail cap of $1.05. Market capitalisation for the company following the float will reach $110 million, the company projects in its prospectus.
Known for its range of Quicken accounting software products, Reckon also provides financial services such as stock broking via its Web site, Quicken.com.au.
Reckon customers -- registered users of current Quicken software or registered users of Quicken.com.au's broking service -- will be given priority in the float and will be invited to apply for 1000 to 2000 shares, said the company. Details will be released on the Quicken Web site on Monday, 21 June.
Accounting software competitor MYOB is also listing on the ASX, with shares priced at $2 each. Applications to purchase MYOB shares by the public closes next week on June 24.