Feeds

Dual float on Horizon for Irish channel player

Cash will fund future acquisitions

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Horizon Technology Group is seeking a dual listing on the Irish and London Stock Exchanges for December. The Cork-based distributor's flotation is being sponsored by NCB Corporate Finance. The company's principal shareholders, Samir Naji and Charles Garvey, will see their holdings diluted after the float, with NCB set to place more than five per cent of the company, or 2.9 million shares, with institutional and private investors, it said. Staff will also get the chance to buy shares. In total, these three groups of investors will hold 25 to 30 per cent of shares in the company. Two months ago the company - which is the parent of Sun reseller Horizon Open Systems and Clarity distribution in the UK - was valued at around £70 million. Horizon will embark on an investor roadshow over the next few weeks to drum up investor support. "Admission to the Official Lists will raise the profile of the Group, enhance its reputation with clients and suppliers and provide it with greater financial flexibility for future organic and acquisition led growth," said Kevin Melia, Horizon Technology Group chairman. "In addition, the company will be able to offer attractive incentives to its employees." Samir Naji, founder and MD of the group, said: "Future growth will come from a focus on niche markets particularly with Internet-related projects and Internet infrastructure." Horizon Technology Group has 260 staff with offices in Ireland, the UK and Continental Europe. ®

Intelligent flash storage arrays

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
What a Mesa: Apple vows to re-use titsup GT sapphire glass plant
Commits to American manufacturing ... of secret tech
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.