Aussie Broadband confirms preparations for ASX listing
Media Release | Monday, 30 Sept 2019 | 1 min read
Aussie Broadband Managing Director Phillip Britt today confirmed that the company is in the midst of a pre-IPO capital raising in preparation for listing on the ASX next year.
News of the raising was leaked to the Australian Financial Review today.
Phil confirmed that the company is aiming to list on the ASX, and that its pre-IPO capital raise has been extremely successful.
“We’re disappointed to see it leaked, as that’s not the way we do business – we prefer to be open and transparent once the deal is done,” he said.
“However, we’re happy to confirm that this is the path Aussie Broadband is taking.”
Phil moved immediately to scotch speculation that Aussie Broadband will start off-shoring its call centres or other operations.
“Investors have decided to support us for good reason,” he said. “We have an award-winning model that includes 100% Australian-based support and a premium network experience. None of that will change.“We will not be taking anything offshore – our regional based operation and automation software gives us similar cost metrics to offshore.
“Aussie Broadband has consistently shown that we can change the telco game in Australia over the last three years; it’s a philosophy that we bring to everything we do, and listing will be no different. We’re after investors who are enrolled in changing the game as well.”
Phil said the pre-IPO phase gives the company the capital to continue its strategy and bring even more products and services to the market.
“To date, we have invested heavily from our own pockets and with a small amount of debt. We’ve built the business from 18,300 to 163,000 customers in under three years and I’m incredibly proud of what we have achieved – all because we have a super-dedicated team that actually care about our customers.
“We’ve shown we can manage rapid growth and still maintain our service and experience. It’s a model we intend to continue.
“Having access to $25m in the bank certainly opens up possibilities for us to grow and expand. We have a comprehensive strategy that will be revealed over the coming months; this is just the first step.”
All information contained in this media release, including references to costs, speed, and capability of the Aussie Broadband network, was correct at time of publication, and may have since changed.
About Aussie Broadband Limited
Aussie Broadband is an Australian operated telecommunications company that was formed in 2008 and is based in Morwell Victoria, Australia.
The company's main focus is nbn® (NBN) subscription plans and bundles to residential homes, small businesses, not-for-profits, corporate/enterprise and managed service providers.
As a licensed carrier, the company provides these services through a wholesale agreement with NBN Co, a mix of leased backhaul infrastructure from third parties and its own network equipment.
The company also offers a range of other telecommunications services including VoIP, mobile plans and handsets, entertainment bundles through its partnership with Fetch TV and connections through its own fibre, the OptiComm network and its white label platform.
With its acquisition of Over the Wire, the company is also a Tier 1 voice provider, and offers a range of tailored cloud, connect and collaborate solutions to business, government and enterprise customers.
Along with being a proud member of the Pledge 1% Movement, Small Change Big Change and more, Aussie Broadband is a certified B Corporation and the largest telco in Australia to hold accreditation.
Aussie Broadband has remained Australia's Most Trusted Brand in Telecommunications since December 2020 and was more recently named Australia's Most Trusted Telco for the second year in a row at the Roy Morgan Trusted Brand Awards for 2023.