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Alterian shares join techMARK

Shares in Alterian, developer of a new analysis database platform to help organisations make better use of their data, have begun trading on the techMARK index of the London Stock Exchange today.

 

Shares in Alterian, developer of a new analysis database platform to help organisations make better use of their data, have begun trading on the techMARK index of the London Stock Exchange today.

This follows the announcement on 11 July that 18.75 million shares had been placed with institutional investors at 200p per share, raising £37.5 million before expenses and capitalising the group at approximately £78.4 million.

The placing was more than 5 times over-subscribed and was sponsored and fully underwritten by Investec Henderson Crosthwaite.

Alterian technology is principally sold through Alterian Business Partners who customise the technology on a customer or application specific basis. The Alterian Business Partners, which include Experian, Claritas and Dimension Data, are based in the UK, Europe, North America and South Africa, and are all suppliers in the field of information analysis.

End users include Premier Farnell, Trinity Mirror, National Power and Britannic Assurance.

Alterian has increased turnover from approximately £426,000 in the 12 month period ended 31 March 1999, to approximately £1,011,000 in the year ended 31 March 2000. Revenue for the period from 1 April 2000 to 30 June 2000 is expected to significantly exceed the revenue achieved in the same period last year.

The directors believe that there are significant opportunities for Alterian products not only in the UK but also in other markets such as North America and Europe. The Placing proceeds will be primarily used to support the development of a sales, marketing and customer service infrastructure in these markets.

The shares are trading at 267.5p after hitting 271p.

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