Uniti Wireless (ASX:UWL) to list on ASX

Uniti Wireless (ASX:UWL) to list on ASX

Uniti Wireless has been disrupting the telecommunications industry since 2014 and making big moves to change the way Australians experience Internet. The Adelaide-based company is excited to list on the Australian Stock Exchange in February 2019.

Uniti has an experienced and capable team, including CEO Michael Simmons, who has been in the telecommunication industry for 30 years. Speaking on his vast experience, Mr Simmons said, “My heritage is in telco and in wireless telecommunications in particular.  I developed the business plan to enter telco in the late '90s to build a telecommunications business when the market deregulated. That business today is TPG, and I was 26 years with that company. Since leaving TPG I've been on a number of telecommunications boards, and I've also been CEO at Vocus (ASX:VOC), a listed telecommunications company.”

Currently, Uniti has more than 6,000 customers in South Australia and Victoria and has $6 million worth of annual revenue. Customer numbers have doubled in the last year as wireless technology continues to gain popularity among Australian homes and businesses.

The young company’s board is also highly impressive. Graeme Barclay is Uniti’s Chairman, who’s worked closely with Mr Simmons for 20 years.

“I met Graeme Barclay a couple of months ago and he was telling me he was contemplating joining Uniti. I'd known Graeme for 20 years and he's had a heritage in wireless. We both met in the late '90s when we were building wireless networks. It's a great opportunity to work with Graeme again as Chairman. He has a long history in telecommunications and in wireless.”

John Lindsay is another board member who is highly recognised in the telecommunications industry for his achievements. His passion for technology led him to his involvement in launching and growing Internode in the early 90s, then serving as the Chief Technology Officer at iiNet from May 2012 to December 2013.

“I think we have a strong, strong board,” Mr Simmons added.

Uniti’s goal is to raise a minimum of $12 million and a maximum of $18 million that will go towards funding the acquisition of FuzeNet, expanding into Sydney, Melbourne, Brisbane and Perth, general working capital and the cost of the offer.

The offer is currently open to investors until Thursday, 31 January 2019. Find out more about it and read the prospectus through OnMarket.