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Tria Software Floats Today on Neuer Markt.

German IT services company Tria Software AG debuts on Frankfurt's small cap exchange, the Neuer Markt, today, after an initial public offering (IPO) of 1.54 million shares at 20 euros ($21.56) each. Of this total, 1.04 million are new shares, representing revenue for the company of 20.8m euros ($22.43m). The company is floating 25% of its capital, valuing Tria as a whole at 123.2m euros ($132.8m). The IPO includes 180,000 shares in the greenshoe option, which was exercised after the issue was oversubscribed.

Munich-based Tria's activities comprise consulting, applications development, systems integration, networks (internet and intranets) and training. Its main target markets are in banking, insurance and telecoms. It registered a pre-tax profit up 123% at DM2.9m ($1.6m) on revenue that rose 74% to DM23.5m ($12.95m).
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Publication:Computergram International
Geographic Code:1USA
Date:May 10, 1999
Words:138
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