Data Fellows Announces IPO in Finland; Record Over-Subscription and First-Day Trading.SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 11, 1999-- Data Fellows Group (HEX:FSC FSC See: Foreign Sales Corporation ), a leading provider of centrally managed widely distributed data security solutions, today announced the initial public offering of its shares on the Helsinki Stock Exchange “HEX” redirects here. For other uses, see HEX (disambiguation).
For Wikipedia's help pages, see . . The offering was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. more than 30 times. The share price increased by more than 250% from the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. price to that at the close of the first trading day. This set a new record on the Helsinki Stock Exchange. In the institutional offering, demand exceeded the initial 5,360,000 shares offered for sale by more than 35 times. More than 1000 institutional investors from some 17 countries placed orders in the institutional offering. The lead manager, Enskilda Securities has exercised the over-allotment option to cover over-allotments in the institutional tranche on behalf of the underwriters. As a result of exercising the overallotment option overallotment option See greenshoe. , a total of 900,000 new shares will be issued representing EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 18,000 increase in share capital. The retail offering was over 31 times oversubscribed in two days and over 37,000 people subscribed to the shares. The initial price, EUR 7.7 per share, rose to more than EUR 27 in the first full day of trading. In related news, shareholders of Data Fellows Corporation voted on November 4, 1999 to elect Olli-Pekka Kallasvuo, Executive Vice President and Chief Financial Officer of Nokia Group, to its board of directors. As a member of the Nokia Group executive board, he has overall responsibility for Nokia's financial operations worldwide covering corporate finance and control, investor relations Investor relations The process by which the corporation communicates with its investors. , acquisitions and real estate. He also oversees Nokia's business operations in the United States. About Data Fellows Data Fellows is one of the world's leading developers of data security products. The company offers integrated solutions for enterprise security by developing, marketing and supporting anti-virus, data security and cryptography software products for corporate computer networks. The company has customers in more than 100 countries, including many of the world's largest industrial corporations, telecommunications companies, major international airlines, government agencies, post offices, defense forces and banks. |
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