Business Services Industry
Aussies gain from US listing.
Australasian Business Intelligence, October, 2006
Byline: Emma Connors
Oct 29, 2006 (The Australian Financial Review - ABIX via COMTEX) -- An Australian technology company has had a big launch on the Nasdaq exchange. Optium listed on 27 October 2006 and by the end of trading was worth $US480.3m ($A625m). It had raised $US90m in an initial public offering. The company makes optical subsystems for cable and telephone networks, enabling them to be remotely configured. In March 2006 Optium acquired Sydney-based company Engana for $US26m. US venture capitalists hold the majority of Optium shares and therefore took the biggest slice of the profit. However, the listing was seen by market observers as an important sign for Australian technology firms.
Publication Date: 30 October 2006
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