EasyScreen set for £20m float

Company to be the first new company on Techmark exchange.

UK-based EasyScreen said Thursday it will attempt to raise £20m in shares through a floatation on the London Stock Exchange.

The company, which makes software for financial institutions, would be via an institutional placing and would give the company a value of £75.2m at the placing price of 170p. The 11.8 million shares to be floated represent 26.6 percent of the company; the sponsor is KPMG Corporate Finance.

When EasyScreen begins trading on 21 October it is expected to be the first new company on the Techmark bourse. The company specialises in software for trading on electronic derivatives exchanges.