Fitzwilliam Capital makes IEX debut
Wednesday, 10 August 2005
Fitzwilliam Capital has been admitted to the Irish Enterprise Exchange market of the Irish Stock Exchange and trading of its shares started this morning.
Fitzwilliam Capital is the second company to be quoted on the IEX market since its inception in April and brings to ten the total number of companies on the market. The IEX is a market created by the Irish Stock Exchange specifically to meet the demands of small to medium-sized companies.
Until yesterday, Fitzwilliam Capital was a London-listed investment company on the lookout for a deal in the technology sector. Yesterday it got shareholder approval to buy German mobile phone provider GetMobile in a deal worth €65m, using money raised via a placing with institutional investors.
Get Mobile has seen its revenues grow from just under €4m in 2001 to more than €50m in 2004 as it seeks to grow its position in the mobile phone market in Germany.
The company gives handsets to consumers for free but the cost to the company of doing that is exceeded by the commission it earns from the likes of Vodafone and O2 in Germany for the new and churn business it generates.
