Jerusalem, May 10: Leading Israeli IT company, Ness Technologies, has submitted a prospectus to the US Securities and Exchange Commission (SEC) for launching its IPO to raise capital for investments in India.
The company plans to raise USD 150 million for investments, repaying bank debts and will be led by the investment houses Lehman brothers and Merrill Lynch.
The financial statements reveal that the company ended 2003 with an income totaling USD 226 million, a 36 per cent increase over 2002.
This is the company's second attempt to enter trading on Nasdaq. In its aborted bid two years ago, Ness had tried to merge with the Israeli sapiens, local media reported.
Bureau Report
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