London Stock Exchange welcomes Manx Telecom plc to AIM

  • London Stock Exchange Market Open
 

Monday 10th February 2014

London Stock Exchange today welcomed Manx Telecom Plc (the “Company”) to open its UK Markets, celebrating the admission of its shares for trading on AIM. The IPO has successfully raised £156.3 million and, upon admission, the Company will have a market capitalisation of £160.2 million.

Manx Telecom Plc is the leading communication solutions provider on the Isle of Man. The Company offers a wide range of fixed line, broadband, mobile and data centre services to businesses, consumers and the public sector on the Isle of Man and a growing portfolio of innovative solutions to customers off-Island.

Commenting on the successful admission to AIM, Mike Dee, CEO of Manx Telecom Plc, said: “The IPO will be a new chapter for Manx Telecom as a fully independent quoted company. We are delighted with the interest received from institutional investors during the marketing exercise which will provide a solid and supportive shareholder base for the future.

“We are a well-established business with strong ties to the Isle of Man and a reputation for excellent customer service, operating on an Island with a resilient, growing and affluent economy. The business is well-placed to take advantage of further on-Island growth opportunities due principally to demand for 4G, faster broadband and data hosting services. Expansion will also be driven by growth in off-Island services based on Manx Telecom’s mobile technology platform.”

Liberum Capital Limited acted as NOMAD and Broker whilst Oakley Capital acted as Financial Adviser to Manx during the IPO.