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Trolltech IPO raises about $19 million

Jul 5, 2006 — by LinuxDevices Staff — from the LinuxDevices Archive — views

Development tools and smartphone software stack vendor Trolltech began trading on the Oslo Stock Exchange on July 5, amidst high demand, mostly from Norwegian investors, the company says. The IPO (initial public offering) was priced at 16 NOK (Norwegian Kroner), or about $2.56, and some 7.5 million shares were subscribed.

The IPO was announced in May, and underwritten by ABG Sundal Collier and SEB Enskilda. In response to demand, ABG Sundal Collier exercised an over-allotment option of 1,125,000 additional shares, according to Trolltech. A ticker chart at the Oslo Stock Exchange suggests that shares of TROLL sold throughout the day for as much as 19 KOR ($3).

Trolltech says 94 percent of its newly issued shares were allocated to institutional investors, while 6 percent were earmarked for retail. The company now has more than 300 investors, it says, who collectively own about 51 million shares in the company. Two thirds of new investors are based in Norway, according to Trolltech.

Co-CEO Haavard Nord stated, “This strengthens our position as a leading provider of software development infrastructure for cross platform applications, embedded Linux mobile phones, and embedded computing devices.”

Co-CEO Eirik Chambe-Eng stated, “We feel the investment community has received us very favorably, and the quality of the shareholder roster is very high.”

Trolltech shares are available now on the Oslo Stock Exchange under the symbol TROLL.

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