You are here: Home - News -

Network Data set for the market

by: By Edward Murray
  • 22/09/2003
  • 0
Network Data aims to float on the Stock Exchange between September next year and May 2005 in a bid t...

Network Data aims to float on the Stock Exchange between September next year and May 2005 in a bid to raise around £2m of capital, according to managing director Richard Griffiths.

Griffiths said the move was not fuelled by any personal desire to cash-in and leave the company, but was a way forward for both staff and intermediaries as it will provide them with a realisable interest in the company. Intermediaries will be given share options relative to the amount of business they have placed.

Before the stock market will consider a floatation, Griffiths said Network Data needs to gain principal status from the Financial Services Authority, and prove it can attract intermediaries as appointed representatives. As such, a float before the autumn of next year is unlikely. A close eye will be kept on the Misys floatation of its rebranded Sesame operation due next year, and Griffiths said he would be monitoring the reaction it received from the market closely, and may look to slip stream behind its launch if it proved successful.

Griffiths said operating as a public company would provide challenges but not be a problem. He said: “The reporting requirements are a bit of a burden, but come as part of the plan. I have no intention of pandering to the short-term analyst views. It is a question of running the business and not supporting the share price.”

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
L&G MC unveils post-regulation plans to adopt network status

Legal & General (L&G) Mortgage Club has announced it will be offering brokers support under the imm...

Close