To: Green Receipt who wrote (5476 ) 3/9/1999 11:55:00 AM From: LABMAN Read Replies (1) | Respond to of 13953
VERSUS TECHNOLOGIES,IPO Home - Yahoo! - Help [ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ] 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 Help Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments? LM