CentralNic joins AIM

Source: http://www.growthcompany.co.uk/news/2392493/centralnic-%ADjoins-%ADaim.thtml

Internet domain name seller CentralNic (LON:CNIC) has joined London's junior market this morning.

The group, which generates revenue from selling domain names to be used as web addresses, has raised £7 million with Zeus Capital acting as nominated adviser and broker to the company.

CentralNic sells what are known either as 'top level' or 'second level' domain names, meaning its customers can access secure and original domains including '.uk.com' and '.eu.com'.

The group's portfolio currently stands at 24 premium domains but it claims to also have been granted the exclusive distribution contracts for 60 new TLDs, 25 of which are already confirmed to launch through CentralNic, including '.wiki' and '.college' for education institutions.

Finally, the company claims to already be profitable and cash generative, particularly because it receives revenues in advance for multiple years, cost of sales is kept low and periodic renewal fees mean the group can guarantee a certain level of income.

Shares in CentralNic were issued at a price of 55p and a market capitalisation of £32.5 million was estimated.