Jade Appoints UBS Warburg To Lead IPO
Christchurch, New Zealand. 19 June 2002. - Jade Software Corporation Ltd today announced that it had appointed UBS Warburg New Zealand Ltd as lead manager for its initial public offering (IPO) of shares and listing on the New Zealand Stock Exchange.
Announcing the decision, Jade Chairman Hon Ruth Richardson said that it became clear from the contestable selection process the company had conducted that UBS Warburg had the expertise to guide the company through to a highly successful IPO.
"UBS Warburg has the kind of capital markets experience and technology industry understanding that will result in this offer being very well supported."
Ruth Richardson said Jade was very satisfied with the progress it had made towards its IPO.
In November 2001, Jade completed an initial round of $12.2 million in financing from the issue of convertible notes to a number of New Zealand and offshore investors. At that time Jade also announced an intention to proceed towards an IPO. It is currently anticipated that the IPO will take place in the first half of next year, subject to equity market conditions at the time.
I-cap partners limited, which has been acting as corporate adviser to Jade since its first round financing, will continue in that capacity.
Chapman Tripp has been appointed as legal adviser.
ABOUT JADE SOFTWARE CORPORATION
Established in 1978, Jade is an enterprise software company. It produces an enterprise application development environment called JADE 5, software products for healthcare, higher education, ports and shipping, and provides custom development services.
The company's products and services are sold by a network of distributors and channel partners to companies throughout Asia-Pacific, Europe and North America.
A privately owned New Zealand
company, Jade employs 330 people in New Zealand, Australia
and the United Kingdom. The company's founder and Chief
Executive is Sir Gil Simpson.
For more information visit www.discoverjade.com