Harvest Technology plc, the technology group comprising IT solutions provider PTL Ltd, payment gateway specialist APCO Systems Ltd, and automation and security company APCO Ltd, is launching an Initial Public Offering representing 40 per cent of its issued share capital. The shares will be listed on the Malta Stock Exchange.
This Equity Issue, the net proceeds of which are expected to amount to €13.2 million, is aimed at fulfilling the aims of Harvest Technology’s parent company 1923 Investments plc as it pursues further growth through acquisitions. This is in line with the scope of 1923 Investments to act as an investment vehicle by embarking upon purchase and sale transaction opportunities.
Harvest Technology’s portfolio of successful businesses delivers impactful, intuitive solutions to customers operating in sectors like banking, aviation, pharmaceuticals, state agencies in Malta and internationally, online gaming, retail, and others. Harvest Technology’s team is composed of 120 industry specialists.
Harvest Technology plc is offering for sale 9.11 million shares at €1.50 per share. The board of directors’ objective is to distribute an annual final dividend to shareholders, amounting to an estimated 4% net dividend yield, meaning that cash dividends are intended to be paid out to shareholders relative to the company’s market value at specific points in time. Information and documentation, including the prospectus, are available at www.harvest.tech.
Application forms will be available from Tuesday, November 26. The closing date is December 12, 2019.
The value of investment can rise as well as fall. Past performance is not necessarily indicative of future performance. Investors should seek the advice of an independent, authorised financial intermediary before deciding to invest in listed financial instruments.
About Harvest Technology plc
Harvest is a group of growing technology businesses delivering impactful and intuitive solutions to customers in banking, aviation, pharmaceuticals, gaming, retail, hospitality, state agencies, and many other sectors. Harvest encompasses PTL Ltd, APCO Systems Ltd, and APCO Ltd.
Harvest is part of 1923 Investments plc which has commercial activities in Malta, Poland and Hungary with a diverse array of operating subsidiaries across three reportable segments: technology, Apple Premium Resellers, and logistics.
In turn, 1923 Investments plc is the investments arm of Hili Ventures, the multi-disciplinary group engaged in partnerships with McDonald’s and Apple, logistics, marine & engineering, technology, property, hospitality and leasing in 10 countries spanning from the Mediterranean and North Africa to Central and Eastern Europe thanks to a team of 9,400 people. It is a proud partner of CMA CGM, Konecranes, IBM, Lenovo, and many other global brands.