A milestone listing on the horizon
Danish software firm Milestone Systems expects to begin the process of becoming listed in Denmark and will hire investment banks Carnegie and JP Morgan to do the groundwork this year, Berlingske newspaper reports.
Milestone Systems, a leading distributor of software for the global security industry, will become the third listing this year in Denmark after ISS and OW Bunker enjoyed successful floatations last month.
“The security market is very attractive to be part of. In the last 50 years, it has been an industry that has continued to grow,” Lars Thinggaard, the head of Milestone Systems, told Berlingske.
US was considered
Thinggaard wouldn’t comment on a prospective listing, but experts contend that the price of the company exceeds one billion kroner.
Thinggaard had told Børsen newspaper in January that he had deliberated moved the listing to the US, but as it stands the company will seek a flotation in Denmark.
“The Copenhagen Stock Exchange and the local investors should be part of improving the chances that we are welcome on the right terms,” Thinggaard said.
“If that doesn’t happen, and if we decide to keep going, we will automatically be shipped out of here. But initially, I prefer to be a big fish in a small pond.”