Irish telecoms group Smart Telecom will start trading on London's Alternative Investment Market tomorrow. The company's shares will be withdrawn from the OFEX at the close of business today.
Smart Telecom also confirmed today that it has completed a fundraising round worth €15m, through a placing of new ordinary shares with institutional and other investors.
The company's CEO Oisin Fanning said the finalisation of the funding round and the move to the AIM are very significant steps for the company.
'Floating on AIM will place Smart Telecom in a perfect position to grow substantially in the coming months. We will shortly be able to offer an integrated voice, data and broadband service to customers all over the country and achieve our ultimate aim of turning Ireland into a broadband nation,' he said.
Smart offers residential and business telecoms services and employs 270 people in Dublin and Cork.
