The management is keen to expand into northern Germany, however, where the company is not so active. "Benelux, Scandinavia and the UK may be the next step," said Uwe Vogel, a spokesman for the company. Triplan will also use the money to develop the internet as a channel for selling its software and services.
Six months ago, the company might have been expected to choose Frankfurt's high growth exchange, the Neuer Markt, to list. Since March last year, however, the exchange's index of leading companies, the Nemax 50, has been in decline and the Neuer Markt has become an increasingly unattractive place to float. On Friday last week, the Nemax 50 reached 1,959, its lowest level ever. "The developments on the Neuer Markt on the one hand, and on the other hand the fact that it will be a small issue, lead us to go to the Smax," said Vogel. "We are a combination between old economy and new economy." A banker close to the deal emphasised that the company is more than thirty years old, making it more suitable for the main exchange. "They have a relatively long history," he said.
Triplan specialises in the biotech, chemicals and pharmaceuticals sectors, but "is also looking at the automotive industry", according to the banker. The company will issue 2m shares. Bookbuilding is scheduled to run from March 19 to March 27.