Think Tools AG, Seventh Company To List On SWX New Market, Opens 159 % Above Offering Price

Think Tools AG, a company involved in knowledge management, were traded today for the first time on the SWX New Market. The offering price was set Thursday night at CHF 270.00. At the start of trading on SWX, the stock stood 159% above that level at CHF 700.00, representing a total market capitalization for the company of CHF 1,680 million.

According to the offering prospectus, of the 2,400,000 registered shares shown in the Commercial Register, 510,000, or 21% of the company's outstanding stock, were offered to the public. Should the underwriters elect to exercise their green-shoe option, that proportion could rise to 23%.

Think Tools AG, headquartered in Zurich, has developed software-based tools that make thought processes visible and enable complex interrelationships to be played through interactively. These "think tools" make it possible to archive "know-how as knowledge" in an intellectual context. Blue-chip companies, leading consulting firms and governments number among the users.

In 1999, Think Tools AG earned revenues of CHF 10.6 million and recorded an operating profit in excess of CHF 5 million. In addition to its Zurich headquarters, the company maintains five regional offices around the globe: in Europe (Munich, Cap d'Antibes), the USA (New York), Asia (Singapore) and Africa (Cape Town).