2M share offering is 35 times oversubscribed
Budapest, Hungary – June 8, 1998
Graphisoft®, a leading provider of CAD
software solutions for the architectural profession and building industry,
began trading its shares Monday, June 8, on the Frankfurt Stock Exchange,
Geregelter Markt with quotation on the Neuer Markt under the symbol GPH. The
total initial public offering, including the underwriters’ over-allotment,
was 2.3 million shares representing about 22% of the company’s 10,581,500
outstanding shares.
«We are facing increasing challenges and increasing opportunities in the
world marketplace,» reports CEO and company president, Gabor Bojar. «New
capital resources and other benefits of being a publically listed company
will contribute significantly to achieving our ambitious goals.»
The offering was made by Graphisoft NV, the Netherlands-based holding
company for the Graphisoft Group. Interest in the company was very strong
during the week long «book-building» process which preceded the offering.
Institutions and private investors across Europe committed to purchase more
than 70 million shares, or more than 35 times the number of shares offered.
Share trading opened Monday at DM65 (about $36.25).
«Investors were excited by Graphisoft’s determination to expand its presence
throughout the entire building market with its virtual building concept and
powerful object technology, sales and marketing savvy as well as its
financial strength.» adds Gabor Bojar.
Founded in 1982 in Budapest, Hungary, Graphisoft is today ranked by
Dataquest as the world’s third largest AEC CAD software developer for
personal computers. Graphisoft’s revenues have grown, and it has been
profitable, every year of its 16-year history. Between 1993 and 1997,
revenues grew from DM14.7M (US$8.2M) to DM38.4M (US$21.5M), while operating
income grew from DM1.7M (US$0.9M) to DM10.4M (US$5.8M), representing
compound annual growth rates of 27% and 57% resepctively. Graphisoft
maintains its headquarters and R&D in Budapest and operates six subsidiary
sales and marketing offices in Munich, San Francisco, Tokyo, Hong Kong,
London, and Madrid. The Graphisoft group of companies is owned by Graphisoft
NV, incorporated in the Netherlands.
Graphisoft’s flagship product, Archicad®, is known around the world as a
leading CAD software solution for the architectural profession and building
industry. Honored by the Software Publishers Association (SPA) with its 1997
Codie Award for Best Groupware product, Archicad is used by more than 45,000
design professionals worldwide. Graphisoft sells and supports Archicad
through its six subsidiary offices in sold in more than 80 countries and 22
languages.
The Neuer Markt is a new trading market established in Germany in March 1997
as a segment of the Deutsche Börse for the listing of high growth and
technology companies. Shares on the Neuer Markt are traded exclusively on
the floor of the Frankfurt Stock Exchange, the fourth largest exchange after
New York, Tokyo and London.
The offering was underwritten by Deutsche Bank, Hambrecht &Quist Euromarkets
and Daiwa Europe Limited. Copies of the Offering Prospectus are available by
contacting one of the underwriters or Graphisoft.