SYDNEY, AUSTRALIA: The Board of Pivotal Systems Corporation announced that it is considering undertaking an initial public offering of its common stock in the U.S. and a dual listing on NASDAQ.

Pivotal Systems’ CHESS Depositary Interests (CDIs) will continue to trade on the Australian Securities Exchange (ASX).

As a preliminary step, Pivotal Systems Corporation intends to confidentially submit a draft registration statement with the U.S. Securities and Exchange Commission.

The timing, number of shares of common stock to be offered, use of proceeds, and the price for the proposed initial public offering have not yet been determined. The offering is subject to market and other conditions, including the effectiveness of the registration statement under the U.S. Securities Act of 1933, as amended.