Israeli telecoms technology business Leadcom Integrated Solutions has confirmed it has raised £9 million (£1 million more than originally anticipated) ahead of its imminent AIM IPO, thanks to keen interest among investors.
Israeli telecoms technology business Leadcom Integrated Solutions has confirmed it has raised £9 million (£1 million more than originally anticipated) ahead of its imminent AIM IPO, thanks to keen interest among investors.
Leadcom – developer of network infrastructure and solutions for global telecoms groups, including Nokia and Nortel – revised its funding intentions following a successful investor roadshow in the UK and France. ‘We are delighted at the reception we have been given by investors,’ enthuses finance director Eytan Mucznik. ‘The additional amount which the company expects to raise on its IPO will be used to strengthen its capital base and to maximise growth.’
In addition to the £9 million IPO placing at 32p, various existing Leadcom investors are selling a further £3 million of shares at this price.
Trading in the company’s shares is expected to begin on Thursday 7 April. Leadcom, advised by broker Corporate Synergy, is expected to be valued at £31 million on arrival.
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