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http://australianit.news.com.au/articles/0,7204,10078387%5E15328%5E%5Enbv%5E15306-15320,00.html

People Telecom makes ASX debut
Roz Alderton
JULY 08, 2004
TELECOMMUNICATIONS provider people telecom today made a muted debut on the share market after its recent merger with Swiftel.

At 12.47pm, its shares were trading at the issue price of 20 cents, after the company debuted at 22 cents this morning.

The listing comes only a few weeks after the merger with broadband provider Swiftel, which was approved by Swiftel shareholders at a meeting held in Perth on June 14.

Previously, Swiftel had been listed on the Australian Stock Exchange, but has now assumed the people telecom name and will trade under that name from today.

Founder and chief executive Ryan O'Hare said he believed the company was getting good support from investors.


A capital raising last month took just two days to raise the required $2 million at 20 cents per share, although people telecom contributed $1 million of that itself.

It currently has more than 205 million shares on issue.

Mr O'Hare said the company was now positioned for further growth under its motto to be "fearless innovators".

"I think our growth is faster than the others like Commander and Macquarie Corporate. There's probably a point where we'll overtake some of the others," Mr O'Hare said.

He said the Swiftel merger had opened up opportunities in new areas.

"We're now selling very strong in government, which we never did before," he said.

He said the company was also targeting the consumer market in areas such as broadband and voice over internet protocol (VoIP).

People telecom mainly focuses on small to medium enterprises, looking after all their telecommunications needs such as telephones, faxes and the internet.

AAP