Electronic publisher of multimedia entertainment, edutainment and reference titles, S E A Multimedia Plc has announced its intention to float on London’s Alternative Investment Market by way of a placing. The Tel Aviv, Israel company released its first product, Olympic Gold, in October 1995, which gives the company the exclusive rights to use the Olympic symbols on CD-ROMs of the 100-year history of the Summer Olympics. By the end of December 1995, 58,750 units had shipped. About 99% of its software is exported to Europe and the US. An updated version of Olympic Gold with highlights of the Atlanta Games is due for release in October, and negotiations are under way to publish similar CD-ROMs on the history of the Winter Olympics. Now into its second year of trading, S E A forecasts profits for the year to December 1996 of $1m on turnover that it estimates will rise to $4.4m from $730,000 for the year to December 1995. It will offer 3.6m shares at 70 pence each to raise #2.52m. According to Raphael Zorn Hemsley Ltd, underwriters for the placing, anyone hoping to get a piece of the action is already too late: the offer has been oversubscribed. Equity raised will be invested into further research and development of games, and to develop on-line and digital video disk technology, said Oliver Hemsley.
