VERSUS TECHNOLOGIES,IPO
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Monday March 8, 7:55 am Eastern Time
FULL TEXT-Versus Technologies IPO
VERSUS Technologies Inc. today filed a final prospectus in l of
the provinces of Canada for an initial public offering and a
secondary offering of 4,067,500 common shares in the capital of
the Company at a price of $11.50 per common share. The
common shares are conditionally approved for listing on The Toronto Stock Exchange and the
Montreal Exchange with the stock symbol ''V'' reserved for the Company.
The offering is being sold through a syndicate of underwriters led by Yorkton Securities Inc. and
includes CIBC Wood Gundy Securities Inc., Merrill Lynch Canada Inc. and RBC Dominion
Securities Inc. It is expected that the offering will close on or about March 12, 1999.
The net proceeds of the treasury offering will be used for marketing E*TRADE Canada(R), the
Company's on-line retail investing service; for investments in technology focused on enhancements to
The VERSUS Network, the technology backbone of the Company's retail and institutional business;
and for general corporate and working capital purposes.
VERSUS, together with its wholly-owned subsidiary VERSUS Brokerage Services Inc., is a leading
provider of electronic securities trading services to the Canadian marketplace. The Company
develops, distributes and provides access to electronic securities trading services and related
products for both retail and institutional investors through its electronic trading network. The
Company's retail business is marketed exclusively in Canada under the E*TRADE Canada name
and delivers on-line investing services through its branded Internet site (www.canada.etrade.com).
The Company's institutional business is offered throughout North America and provides institutional
investors and investment dealers with automated trade execution products and services as well as
specialised information management, trading and analysis tools.
VERSUS' Chairman and Chief Executive Officer, Douglas Steiner, said "I am looking forward to
continuing to build our business for the benefit of our shareholders."
VERSUS Technologies Inc. and VERSUS Brokerage Services Inc. are headquartered in Toronto,
Canada. VERSUS Brokerage Services Inc. is a member of the Investment Dealers Association of
Canada and the Canadian Investor Protection Fund.
E*TRADE Canada(R) is a registered trade-mark of E*TRADE Group, Inc. used under license.
E*TRADE Securities, Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group,
Inc., are headquartered in Palo Alto, California.
These securities have not been and will not be registered under the United States Securities Act of
1933, and may not be offered or sold in the United States absent registration or an
applicable
exemption from such registration requirements.
For further information:
VERSUS Technologies Inc.
Suite 3810
181 Bay Street
Toronto, Ontario
M5J 2T3
Attention: Customer Service
Telephone: (416) 214-1960
1-800-663-9360
Facsimile: (416) 941-8931
E-mail: media@tradeit.com
www.versus.ca
www.canada.etrade.com
Media Contact:
Deborah Thompson
Telephone: (416) 214-6276
1-800-663-9360
Facsimile: (416) 941-8931
E-mail: dthompson@tradeit.com
More Quotes and News:
VERSUS TECHNOL (Toronto:V_w.TO - news)
Related News Categories: Canadian Market News, US Market News
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