London Stock Exchange Welcomes Calnex Solutions plc to AIM
London Stock Exchange today welcomes Calnex Solutions plc (CLX) to AIM.
Calnex designs, produces and markets test instrumentation and solutions for network synchronization and network emulation, enabling its customers to validate the performance of the critical infrastructure associated with the telecoms networks. To date, Calnex has secured and delivered orders from over 600 customer sites in 68 countries across the world. Customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel, Qualcomm, IBM and Facebook.
The telecommunications industry is going through unprecedented levels of change, presenting exciting opportunities for the expansion of the business. The implementation of 5G, the emergence of the Internet of Things and the shift to using cloud computing are all agents of change to the structure of Telecom networks around the world. Calnex has the opportunity to capitalise on the changes being made within the Telecoms market, which are expected to generate sustainable growth in the future for the Company.
Calnex Solutions has successfully raised £22.5 million through a placing, giving it a market capitalisation on Admission of £42.0 million. The net proceeds will allow Calnex to invest in business development and R&D resource, repay its existing debt facility and evaluate opportunities to acquire complementary technologies or businesses to expedite the Company’s growth.
Tommy Cook, Chief Executive Officer and founder of Calnex, said:
“Joining AIM today is a significant landmark for Calnex. The successful fundraise and move onto the public markets provides us with the resources and means to expand our product portfolio, both organically and through acquisition, to take advantage of the significant structural changes taking place in the global telecoms industry.
“I would like to take this opportunity to thank the Calnex team for all their hard work through the years, our existing shareholders for their ongoing support, and to welcome our new shareholder to the register.
“With many of the world’s leading players in the telecoms market on our client roster, a proven track record in innovation, strong financial position and global distribution capability, we are confident in our ability to capitalise on the opportunities ahead.”