UK B2B specialist Gamma Telecom is thought to be mulling a £150m (US$252m) listing that could see Malaysian billionaire Robert Kuok cut his 40% stake in the group.
Investec is understood to be gauging market appetite for the IPO, three years after…
UK B2B specialist Gamma Telecom is thought to be mulling a £150m (US$252m) listing that could see Malaysian billionaire Robert Kuok cut his 40% stake in the group.
Investec is understood to be gauging market appetite for the IPO, three years after economic conditions forced Gamma to scrap previous plans to float, although investor and analyst notes have yet to be issued.
Kuok, who owns the stake through his Kerry Group investment vehicle, is not expected to sell the entire holding after being invested in the group for more than a decade.
Gamma operates an MVNO, owns fibre assets in Manchester, and claims to provide 75% of all traffic from IP services.
According to The Times, which reported about the IPO plans earlier, it achieved £17m (US$29m) in operating profit in 2013 in its sixth straight year of double-digit growth, while increasing revenue for four years.
A listing would follow recent telco IPOs from London-based CityFibre and Manx Telecom, the Isle of Man’s main telecoms operator.
However, British clothing chain Fat Face called off its IPO last week amid signs that investors are becoming choosier due to a flood of flotations.
