Dark fibre infrastructure provider, Superloop, on Thursday commenced trading on the Australian Securities Exchange (ASX) after following an IPO which raised $17.5 million.
Superloop was established in April last year by Australian telco entrepreneur, Bevan Slattery, who also founded of ASX-listed data centre provider, NEXTDC Limited and was co-founder of Pipe Networks.
The company -- which also has iiNet founder Michael Malone on the board -- is hoping to become a leading provider of dark fibre connectivity services across the Asia-Pacific region.
Superloop key assets include a 15-year exclusive right to a 130-kilometre fibre network within Brisbane, Sydney and Melbourne, connecting data centres within those areas. Customers include iiNet, M2 and Annitel.
The IPO will fund the construction and ongoing maintenance of the Australian and Singapore networks, hire additional sales staff and evaluate new growth opportunities, said Superloop CEO, Daniel Abrahams.
"Superloop remains on track to achieve its planned 'network live' milestone during the third quarter of 2015 for its initial core networks in Australia and Singapore," he said.
The company recently acquired a strategic underground duct network spanning 120 kilometres in Singapore and is currently undertaking the rollout of its fibre optic network.
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Once completed, this network will interconnect data centre and submarine cable landing stations including Equinix SG1, SG2, SG3, Global Switch and Digital Reality in Singapore, Singtel's Katong and Tuas Cable landing stations.
The company is trading under the ticker symbol 'SLC.'
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