YAVNE, ISRAEL – Software provider Valor
Computerized Systems plans an initial public offering of ordinary shares,
according to a Securities and Exchange Commission filing.
The company did not disclose the expected size or price
range of the IPO, but indicated the planned March offering may net up to $80.5 million.
The company plans to offer $50 million of shares, while
shareholders will make an offer to sell of up to an additional $20 million of
their shares and underwriters will be granted options for an additional $10.5
million worth of shares.
For the nine months ended Sept. 30, Valor's earnings were
$2.2 million on revenue of $31.4 million.
currently traded on the Frankfurt
Exchange, said its
new symbol will be "VLOR."