IT services provider Teliti International Ltd has joined Aim and the shares went to a 2p premium by the end of the first day’s trading.
At 55p a share, Teliti was valued at £12.9m. The shares went to 57p early in the day and ended the day at that price.
Teliti believes that the Aim quotation will enable it to expand in Malaysia and across Asia and the Middle East. Teliti is completing its first datacentre and sees this as a growth area. The Malaysian government has recognised Teliti as one of three providers of datacentres that will help drive Malaysia to becoming a preferred regional location for datacentre services. The target is 5m sq ft of datacentre space in Malaysia. Teliti has a relationship with Cisco.
The first datacentre will have capacity of 120,000 sq ft. Phase 1 will be completed by March 2012 and will have 45,000 sq ft. Negotiations have begun about pre-selling 40% of this space. Contracts will last up to 20 years. The rest of the space will be ready after a further 12 months.
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