News Burst: Financial Objects to float

Financial Objects, a leading supplier of banking software, announced yesterday it is seeking a listing on the London Stock Exchange next month. Founded just three years ago, the company has grown rapidly and announced a pre-tax profit of £2 million last year.

Describing the "rapid change" facing banks and other financial institutions, Financial Objects chairman Roger Foster said the company's "component" software would be at the forefront of a "new generation of software".