Retek Inc. –

MINNEAPOLIS – Retek Inc., an inventory management software company, went public November 18, offering 5.5 million shares at $15 apiece. The company’s stock priced above its $12 to $14 filing range.

Underwritten by Credit Suisse First Boston, BancBoston Robertson Stephens and U.S. Bancorp Piper Jaffray, the initial public offering left 45.5 million shares outstanding.

There were no selling shareholders. Capital Research and Management Co., The TCW Group Inc., Franklin Resources Inc. and J. & W. Seligman & Co. Inc. were venture backers.

The company makes inventory management software that lets retailers interact across the Web with suppliers, wholesalers, transportation companies and other links in the supply chain. Retek is a spin-off of business intelligence software company HNC Software Inc.

The $74.9 million in proceeds expected from the IPO will be used for general corporate purposes, including working capital and debt repayment.

Retek has always been profitable, earning $3.5 million in 1997 and $3.9 million in 1998.

No venture backers have joined the company’s board of directors to date.

Retek – Selected Financial

(in thousands, except per share data)

Year Ended December 31 Nine Months Ended September 30

1996 1997 1998 1998* 1999*

Total revenue 13,433 30,923 55,033 39,829 57,759

Net income 2,233 3,476 3,878 2,171 5,093

*Unaudited