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There is a very interesting IPO coming out on Wednesday, Dec 20 on the Toronto Stock Exchange over the counter market. The company is called Certicom, and it has several data security products that are leading edge, involving data encryption/decryption through public key cryptology using eliptical curve computations (ECC). They have applied this technology to fax encryption, wireless modem transmissions, and are in talks with Netscape and VISA International to apply ECC to the internet and in the upcoming smart cards. The current public key security system used by Netscape has been cracked by European hackers and is not viewed as being robust enough for widescale commercial transactions on the internet. ECC has been demonstrated to be substantially more robust because of the complicated algorithms utilized. Certicom has patented several applications that use this computationally intense security system, yet on a very efficient process. They are concluding trials with Motorola and VISA and could be in position to announce significant contracts in 1Q 1996. They have current revenues with the likes of Motorola, the nationwide banks in Canada, various branches of the Canadian Government, and the Social Security System and IRS in the US. The IPO is a very tight deal. Institutions will hold over 70% of the shares after the IPO. 4 institutions are long term shareholders and they hold 60%. There are only 3 million shares underwritten in the IPO, and the issue price is C$ 3.00. The company intends to do a secondary issue on NASDAQ in the next 6 months. The deal is oversubscribed, however this stock is set up for very favorable performance and should be a great trader. If you are familiar with the recent IPO of Secure Computing (SCUR - NASDAQ) lead by Piper Jaffray, this represents the ultimate possible outcome. I will post the ticker symbol here next week. You can get a prospectus from Phil Gow at Trinity Capital Corp. at (416) 862-7168. | ||||||||||||||
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