Telspec for market in pounds 5m placing
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.TELSPEC, an international telecommunications company, is coming to the stock market via a placing to raise about pounds 5m, writes Russell Hotten. It accompanied yesterday's pathfinder prospectus with news of a pounds 7.5m order from Germany's Bundespost national telecommunications business.
The company, founded in 1975 and wholly owned by Frank Hackett-Jones, designs and manufactures telecom equipment. About 40 per cent is being placed and a flotation price and profit forecast will be announced on 2 December.
Interim results for the six months to 30 June showed turnover of pounds 8.53m and pre- tax profits of pounds 1.94m. The order book, including the latest deal, stands at pounds 25m.
Mr Hackett-Jones is looking for continued expansion overseas and funds from the flotation will be used to finance service and support facilities in Germany, Turkey and the Far East.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments