Sanchez Computer subsidiary e-PROFILE files for IPO
MALVERN, Pa., Aug 8 (Reuters) - Banking software company Sanchez Computer Associates Inc (NasdaqNM:SCAI - news) said early on Tuesday its subsidiary, e-PROFILE Inc, filed with federal regulators to hold an initial public stock offering.
The unit, whose software allows financial services companies to offer Internet-based services, has not determined how many shares it will offer the public or at what price.
E-PROFILE intended to have its shares trade on the Nasdaq market system under the ticker symbol ``EPRO'' (Nasdaq:EPRO - news), according to a filing with the U.S. Securities and Exchange Commission.
Sanchez also said Sanchez shareholders would be able to participate in part of the e-PROFILE IPO if they held at least 100 Sanchez shares.
Merrill Lynch & Co, Robertson Stephens, First Union Securities Inc, and Pennsylvania Merchant Group were acting as managing underwriters for the public offering, Sanchez said.
Shares of Sanchez Computer Associates closed on Monday at 20-3/16, off a year high of 59-9/16 but up from a low of 13-3/4.
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