News blog
Teliti International Ltd
- BY: Andrew Hore |
- POSTED: 01/11/2011 |
IT services and datacentres provider Teliti International Ltd is planning to join Aim via an introduction on 3 November.
Chief executive Haji Mohamed Nasir Abdul Majid founded the Malaysia-focused business two decades ago. There are three main businesses. Teliti Solutions provides SAP-based IT software services and Teliti Services is an IBM reseller. Telit Datacentres is constructing a datacentre in the town of Enstek, near Kuala Lumpur. The datacentre will have 120,000 square feet of net lettable area and capacity will be offered to existing and new clients of the group.
The expected market value of Teliti is £12.9m. Teliti Computers Sdn Bhd will own 85% of the company and Utilico Emerging Markets Ltd owns 5.34%. The largest four shareholders will own 96.5% and that will make the market illiquid. This is a big problem with introductions where no new money is raised.
Teliti originally wanted to float in early 2010 when ZAI Corporate Finance was nominated adviser. Daniel Stewart has taken up that role.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf
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