Telemedia Lists On ASX
Telemedia Networks International Limited today listed on the Australian Stock Exchange at a closing price of $1.63 - a 63% premium to its issue price of $1.00 per share.
The successful listing came as Telemedia announced it had won a significant contract to supply telecommunications equipment to a Japanese carrier. Telemedia chief executive Chris Jones said he was delighted with the listing, which had raised $15 million for the company to assist with its global expansion.
"This is an excellent result for Telemedia and underpins our growth strategy in the rapidly expanding telecommunications industry," Mr Jones said.
Mr Jones also announced that Telemedia had won a contract to supply Japanese telecommunications carrier Alpha Networks with the installation and ongoing support of an Intelligent Network Solution.
Alpha Networks has an established customer base in Japan. The Telemedia system will provide prepaid and post-paid calling as well as a switching system to enable Alpha Networks to interconnect with other Japanese and international carriers.
"This is a significant win for Telemedia and further strengthens our presence in the Asia-Pacific region," Mr Jones said.
He said the success of the Japan contract showed that Telemedia's growth strategy was on track, and followed recent developments including:
* An agreement with Excel Corporation to be one of its Global Development Partners.
* A deal to supply Turkey's national mobile carrier, TurkCell, with its SmartCall product.
* A deal to supply Jakarta-based PT Natrindo Global Telekomunikasi with multiple Calling Card platforms to be installed throughout Indonesia.
The establishment of an Australian head office in Sydney.
* The appointment of a sales manager for Japan and an international sales director for the company's Intelligent Network Solutions division.
Telemedia's products and services include the provision of prepaid mobile systems and prepaid calling card systems as well as other value-adding product enhancements such as voice mail, centralised messaging and information services. Other business lines include Call Centre Systems, Intelligent Network Solutions, and Professional Services.
For further information contact Chris Jones, CEO of Telemedia, on 64 21 633 951, or Australia: Hinton & Associates Suzie Batten on 613 9600 1979, 0419 546 104 Scott Hinton on 613 9600 1979, 0419 114 057 New Zealand: Consultus Richard Gordon on 64 9 309 2900, 021 637 695 Eion Scott on 64 9 309 2900, 021 891 039