Innovative telco service provider Vonex has received the tick of approval to list on the ASX as its $7 million initial public offering receives significant support.
The approval is subject to standard conditions for an ASX IPO to be satisfied with the company now working to complete these as soon as possible.
Vonex issued a prospectus last month which sought to issue at least 30 million and up to 35 million ordinary fully paid shares at an issue price of $0.20 per share to raise up to $7 million before costs. State One Equities is underwriting $5.5 million of this amount.
Vonex chairman Nicholas Ong said the company had received strong support for its prospectus and proposed ASX listing from Australian, Asian and European retail and sophisticated investors and small cap funds.
We are now working through the procedural conditions to ensure we can list the Company on the ASX as soon as practicable.
Producing a broad range of telecommunications solutions, Vonex acts as a service provider selling mobile, internet, traditional fixed lines, hosted PBX and VoIP services, predominately to the small to medium enterprise customers.
The company is also developing a highly-advanced mobile app, called Oper8tor, which allows users to connect to any social media friend through voice messaging and text, regardless of whether the contacts are using different applications.
Oper8tor is expected to launch via a soft release in late 2018.
