Telcoinabox plans to go public
There are changes afoot at the Telcoinabox business as it becomes part of a new group which is taking steps to significantly grow its operations through an IPO (Initial Public Offer). There is also another acquisition in the pipeline, and the appointment of a new chairman.
The newly formed Inabox Group Limited (Inabox) has opened its initial public offer of $2.9 million. Inabox was formed following the acquisition this month of the business and assets of telecommunications wholesale aggregator, Telco In A Box Pty Ltd (Telcoinabox).
The proceeds from the IPO will be used to fund the growth of the Telcoinabox business, expand into new markets and complete the acquisition of an additional telecommunications wholesale aggregator specialised in VoIP, iVox Pty Ltd.
After completion of this acquisition, Inabox will support over 200 telecommunications Retail Service Providers (RSPs) Australia-wide.
The Offer price per Share is $1.20 with 2,416,667 Shares on offer with the right to accept oversubscriptions of up to $500,000.
The listing on the Australian Stock Exchange (ASX) is anticipated for 26 June 2013 under the ASX trading symbol IAB.
Siimon Reynolds has been appointed non-executive chairman of Inabox. A highly esteemed entrepreneur, businessman and mentor with over 25 years experience in media and marketing, Reynolds will facilitate strategic marketing and the overall business’ growth.