Shares in Horizon Technology Group will begin trading on the Irish and London Stock Exchanges next Monday, December 6th, after the company successfully placed 9.5 per cent of its share capital with investors at a price of £1.29 (€1.64) per share.
The placing, which was oversubscribed, values the company at more than £75 million and means that around 30 per cent of Horizon is now held by external investors.
Horizon had originally intended placing just five per cent of its equity with investors, but increased the amount due to demand.
The shares were placed with a range of new institutions in the UK and Ireland, private investors and employees.
"We are very pleased with the positive response," said Horizon chairman Mr Kevin Melia.
Horizon's employees subscribed for shares representing 1.5 per cent of the issued share capital, worth around £1.1 million.
Following the placing, the company's principal shareholder, Mr Samir Naji, has reduced his holding in the group. Mr Naji now owns 58.7 per cent of Horizon's shares compared with an earlier stake of 67 per cent.
