Credit: Dreamstime
Melbourne-based wholesale network infrastructure operator OptiComm is set to list on the Australian Securities Exchange (ASX) following $42.3 million in capital raising.
The company’s offer price was set at $2.00 per share, with 21.18 million shares on offer. Using the ticker OPC, OptiComm is due to start trading on the ASX on 22 August.
OptiComm, which has been operating since 2007, specialises in the design, installation, operation and maintenance of fibre to the premises (FTTP) network solutions for new residential and business development sites in Australia. It also has offices in Sydney, Brisbane and Perth.
In his chairman’s letter, Allan Brackin, said the company has grown to become one of the largest privately owned and operated open access FTTP wholesale network operators for new developments.
“Our business is driven by the ever-increasing consumer appetite for internet connectivity, which requires fast and reliable bandwidth services within residential, commercial and retail market segments,” Brackin said.
“OptiComm expects organic growth to continue, supported by the growing consumer demand for high-speed internet connectivity and ongoing demand for fixed-lined fibre telecommunications infrastructure. This growth is also supported by regulation requiring the installation of fibre network infrastructure in new residential developments.”
Brackin further added that as of 30 June, the company had installed fibre network infrastructure to more than 106,000 lots in 245 estates and buildings across Australia, with more than 76,000 of these lots connected to OptiComm networks, and more than 60,000 dwellings receiving active internet, telephone and other telecommunications services provided by retail service providers.
The company is forecasting to install fibre network infrastructure to about 18,000 lots in FY20, with a contracted pipeline of more than 100,000 lots in the next five to 10 years.
In relation to the impending roll out of 5G, OptiComm said it sees a complementary future with 5G technologies, as it will more than likely encourage increased usage of high bandwidth, low latency applications, which the OptiComm network can support as users switch between their 5G mobile connection to their fixed line network at home.
The company highlighted potential growth areas such as ‘smart city’ solutions; leveraging existing ‘back-haul’ infrastructure; investing in new value add services; expanding the number of retail service providers; assessing strategic and acquisition opportunities as well as the potential for geographical expansion.
In June, OptiComm sided with Juniper Networks to replace its entire core network infrastructure in an effort to double its reach across Australia, using its MX480 5G universal routing platforms to cater to a “boom” in new property developments.
According to OptiComm, the software-defined networking (SDN)-enabled infrastructure will help them build uncongested networks with cabling for internet, telephone and TV services.
In addition, the partnership will prepare OptiComm for the growth of mobility, internet of things (IoT) and connected vehicles in the future, the company said in a statement.
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