TMCnet News
…but Irish web domain company takes the plunge with new listing(City A.M. (UK) Via Acquire Media NewsEdge) AFILIAS, the Dublin-based internet service provider, yesterday defied the stock market gloom to launch a $100m (£62m) listing. The flotation, which is being led by mid-market broker Numis, will see the company list on Aim, the junior stock market next month. The company has the secondlargest number of domain names in the world and will place the shares with institutional and professional investors to raise a warchest to fund future growth. "The placing will bring significant benefits - by providing further capital to fund our organic and acquisitive growth plans, and raising our corporate profile with existing and new customers," executive chairman Jonathan Robinson said. The business has grown revenues from $61.7m in 2011 up to $77.6m in 2013, and now has adjusted earnings margins of 49.6 per cent. "Since 2001, we have established ourselves as one of the world's leading players in the domain name industry," chief executive Hal Lubsen said. "The increasing use of the internet is here to stay, and underpins the growth in our market." Numis is also set to act as its nominated adviser on the alternative investment market. (c) 2014 City A.M. |