United Networks - IPO

Stockbroker APP Securities is in the market for telecommunications provider United Networks, seeking to raise fresh funds for the business and have it listed on the Australian Securities Exchange.
It's understood APP has had United Networks in front of potential investors in recent days and is seeking to have a bookbuild wrapped up this week.
United Networks provides all types of telecommunications services - traditional telephone, mobile, fixed data, consultancy and the like - as well as white label products.
It is seeking to raise $7.5 million for its IPO, at 20¢ a share.

It's understood the offer values United Networks at $25.5 million, on a market capitalisation basis.

United Networks has told potential investors it had $7.6 million revenue in the 2016 financial year and $1 million earnings before interest, tax, depreciation and amortisation.