| IPO Company Profile © ipodata.com |
| Message Board | Quote | Chart | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| 724 Solutions, Inc. |
| 4101 Yonge Street, Suite 702, Toronto, Canada M2P IN6 * (416) 226-2900 |
| Business Description | The company provides an Internet infrastructure solution to financial institutions that enables them to offer personalized and secure on-line banking, brokerage and e-commerce services across a wide range of Internet-enabled wireless and consumer electronic devices. |
| Offering Information Company has | |||
| Trading As | SVNX (NASNTL) | Industry | Internet (SIC 7372) |
| Type of Stock Offered | Common Shares | Filing Date | 7/2/99 |
| Domestic Shares Offered | 6,000,000 | Offer Date | 1/27/00 |
| Foreign Shares Offered | 0 | Filing Range | $20.00 - $22.00 |
| Company Shares | 6,000,000 | Offer Price | $26.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.820 |
| Gross Proceeds | $156,000,000 | Selling | $1.090 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 35,400,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | |||
| Revenues | - | - | - | - | 1.886 | 1.257 | 2.102 |
| Income from Oper. | - | - | - | -0.165 | -1.230 | -0.248 | -6.535 |
| Net Income | - | - | - | -1.550 | -1.123 | -0.179 | -6.194 |
| E.P.S | - | - | - | -0.110 | -0.390 | -0.080 | -0.930 |
| Revenue Growth (%) | - | - | - | - | 67.22 | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | 0.00 | 0.95 | -3.87 | ||||
| Cash Flow - Inv. | -0.93 | -0.36 | -1.22 | ||||
| Cash Flow - Fin. | 2.61 | 0.70 | 30.16 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 32.44 | Current Assets | 30.81 | Current Ratio | 5.40 |
| Total Liab. | 5.71 | Current Liab. | 5.71 | Debt Ratio | 17.60% |
| Total Equity | 26.73 | Working Cap. | 25.10 | Debt to Equity Ratio | 0.21 |
| Cash | 28.04 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and potential acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Morrison & Foerster |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | KPMG LLC |
| Send us feedback if you would like to request that we hyperlink a firm on this page | |
| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Gregory Wolfond | 27.20 | |
| Sonera Corporation | 21.80 | |
| Citigroup Inc. | 21.80 | |
| Bank of Montreal | 11.70 | |
| Bank of America Corporation | 10.90 | |
| Note: represents ownership of 5% or more prior to the offering. | ||