Micware Prices $22.8 Million IPO

MT Newswires Live

05/14

Micware priced its upsized initial public offering of about 2.9 million American depositary shares at $8 per share.

The Japan-based software and IT services provider expects to raise about $22.8 million in gross proceeds to support its DSMM project, expand its micAuto-PF infotainment platform and fund SDV and location-based services investments, as well as for general corporate purposes.

Trading is expected to begin on Nasdaq this Thursday, under the ticker "MWC," while the offering is set to close around Friday.

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