News: SpeedCast International has lift-off on ASX listing

SpeedCast International (ASX:SDA) has listed on the local stock exchange reaching an intra day high of $2.09 providing stags with a small profit from the listing price of $1.96.

This would see a market cap. of circa $235 million at issue price for the Asia Pacific satellite services business.

New investors are expected to hold approximately 63.7% of the shares, with the remainder being held by investment funds affiliated with TA Associates, management and non executive directors.

SpeedCast will offer managed networks services in over 60 countries; and a global maritime network serving customers worldwide. Headquartered in Hong Kong with over 4,000 links on land and at sea supporting critical applications.

 

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