Software company launches IPO

RS2 Software p.l.c. today announced details of its IPO on the Malta Stock Exchange.

The Initial Public Offer will be a combined offering of 12,500,000 ordinary shares of a nominal value of €0.20 each at a share price of €0.80 per share.

RS2 Software is a German-owned, Malta-based IT company that has been in operation for over 20 years. The company services banks, financial institutions and service providers operating in the fast-growing card payments industry. The company is currently present in 23 countries, including Scandinavia, Eastern Europe, the Middle East and the United States.

The Company has invested considerably in developing its proprietary software solution trademarked ‘Bankworks’ which is certified by the major international card organisations such as VISA and MasterCard. The critical importance of Bankworks is the fact that it can support any financial institution, from a small bank to the largest multi-national organisation, since Bankworks can process an estimated 3 million transactions in one hour, controls thousands of POS terminals and ATMs in various institutions and can handle transactions in over 40 currencies.

In addition, Bankworks currently supports service providers having large client portfolios of up to 130 banks and financial institutions.

Mario Schembri, CEO, said that the company, has tapped only a small proportion of the potential market as to date the business was generated solely from networking and marketing efforts of the Malta-based office.

"RS2’s management team is now set to embark on an ambitious programme, financed with part of the IPO proceeds, and will include opening up of regional offices in the Middle East, Europe and the United States, increase promotion and marketing of its software products and solutions worldwide, further increase research and development and establishing the RS2 training academy."

Application forms will be available on Monday and subscriptions open on 9 June 2008 and close on 13 June 2008. The offer may close earlier in the event of over-subscription.

Further information may be found in the prospectus which may be obtained during office hours from all bank branches in Malta and Gozo and authorised intermediaries.