VoIP Company Citel planning an IPO
British voice over internet protocol (VoIP) firm Citel has said that they are planning to launch an initial public offering on London’s junior AIM market.
The company aims to raise 8.2 million pounds through a share placing. Citel is primarily in the business of selling VoIP hardware, which makes it easier for corporate entities to use their existing equipments to make calls using the internet.
Citel has said that they had placed 8.63 million shares at 95 pence per share.
The company has some high profile clients including U.S. firm Sprint Nextel and they plan to use the IPO money to increase production to meet the ever-growing demand for VoIP hardware.
More and more corporations are joining the VoIP bandwagon considering it cut costs on making international calls. And companies like Citel make it easier for them to switch to VoIP without changing much of the already existing equipment base.
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