London Stock Exchange welcomes Ethernity Networks plc to AIM
The London Stock Exchange today welcomed Ethernity Networks Ltd, a data network processing technology company, to celebrate the listing of the Company’s public shares onto the AIM Market of the LSE.
Ethernity is a technology solutions provider that develops and delivers data processing technology used in high end carrier ethernet applications across the telecom, mobile, security and data centre markets. The Company’s core technology, which is populated on programmable logic enables data offloading at the pace of software development, improves performance and reduces power consumption and latency, therefore facilitating the deployment of virtualisation of networking functionality.
In a significantly oversubscribed placing, Ethernity Networks raised gross proceeds of £15 million, which the Company will use to develop its core markets and strengthen its balance sheet in order to support sales to tier one network providers.
David Levi, Chief Executive Officer of Ethernity Networks, said:
"We are delighted to be welcomed to the London Stock Exchange today in celebration of Ethernity Networks shares being listed on AIM.
"The fundraising and AIM listing is a major moment for Ethernity that will put the business on a greater trajectory and address an exponentially growing market. We have game changing technology that major global network operators are demanding and the listing will enhance Ethernity’s profile and strengthen our balance sheet."