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Gamma Communications to be worth £165.2mln at float

Published: 13:52 07 Oct 2014 BST

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Tech firm Gamma Communications will float on AIM at 187 pence a share when it lists on Friday, October 10.

This gives the UK business communications specialist a market cap of around £165.2mln.

The listing follows a placing of around 44mln shares raising around £82.6 mln for the selling shareholders.

On admission, the placees will own half of the company's capital.

Chief executive Ben Falconer said the group was pleased with the positive response from the institutions.

"Being a public company is an important development for Gamma. We have exciting growth opportunities in our end markets, particularly in the large enterprise market and public sector, and we expect that the higher corporate profile arising from a public company status will help us to continue the momentum we have enjoyed over the past few years."

Gamma's services are designed to meet the requirements of voice, data and mobility requirements within the anywhere, anytime business environment.

The company also provides services such as business-grade broadband, Ethernet and mobile and data services and, as a consequence of its history, has a substantial voice service capability.

More than 80% of Gamma's revenues come from an extensive network of more than 650 channel partners, which Gamma has grown and developed over the last 12 years.

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