The late ticker: Securicor disposal

Securicor, the security and business services company plans to sell 42.8 per cent of its US telecommunications billing subsidiary, Securicor Telesciences, through a global share sale.

The shares are currently owned by Securicor Communication, another US subsidiary. It will sell 2.6 million shares at prices ranging from $11 (pounds 6.70) to $13 a share, which values Telesciences at approximately $79m.

The shares will trade on the US Nasdaq exchange.

Telesciences, based in New Jersey, provides US telecommunications companies including Ameritech and US West with billing and collection services.

It also develops computer hardware and software to process transaction information.