The offering is expected to value the UK's largest private information technology company, which is about 30 per cent-owned by institutional investors, at pounds 850m to pounds 900m.
The company also said 1997 pre-tax profit rose 38 per cent to pounds 47.1m and sales increased 28 per cent to pounds 1.13bn as the planned introduction of a single European currency in 1999 and the year 2000 conversion date fuelled demand for information technology services.
Mr Norris said: `Given the shareholder structure, we were always going to do it one day. We don't really need the money.'
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