Gamma plans £150m market floatation

Gamma plans £150m market floatation

Telecoms firm Gamma is preparing a £150m floatation on the stock market.

Gamma has appointed Investec, the investment bank, to run an investor roadshow ahead of the initial public offering (IPO).

The move comes three years after Gamma pulled out of earlier plans to float, citing volatile market conditions at the time. The company has made clear it will shelve this latest attempt to float if current market volatility continues. Clothing retailer Fat Face and online retailer The Hut both recently pulled out of IPOs expressing concern about unpredictable market conditions.

Gamma competes with the likes of BT, Virgin Media and Daisy in the telecoms market. It has grown its share of the market significantly of the past few years, driving into the unified comms market.

The company’s operating profit last year is estimated at £17m, with Gamma registering six consecutive years of double digit growth.

Gamma was unavailable for comment.


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