Adelaide high speed broadband company Uniti Wireless could be looking at an initial public offer
HIGH speed internet provider Uniti Wireless is on the hunt for an adviser as it looks at a possible initial public offer.
HIGH speed internet provider Uniti Wireless is on the hunt for an adviser as it looks at a possible initial public offer.
Co-founder Sasha Baranikov said the Adelaide-based company was receiving upwards of 1000 applications a month for its fast broadband products, driven largely by customer disillusionment with the NBN.
Ms Baranikov said investors in the telco sector also were looking for companies which did not face the “headwinds” which the NBN presented, with providers such as Telstra and Vocus hamstrung by having to use the underlying technology.
Uniti is not yet disclosing how much it might raise through an IPO or when that might eventuate, but Ms Baranikov said due diligence would be done on what the best option for the company would be.
The company recently moved its headquarters from Leigh St to Currie St to accommodate its need for more space. The company offers residential and business internet plans over wireless infrastructure, avoiding the technical and pricing issues which NBN resellers have faced. In May, Uniti raised $3m to fast-track its expansion into metropolitan Melbourne.
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