CentralNic set to use AIM as launch pad for emerging market growth

Source: http://www.growthbusiness.co.uk/news-and-market-deals/ipo-and-city-news/2392698/centralnic-set-to-use-aim-as-launch-pad-for-emerging-market-growth.thtml

4th September 2013 — The Alternative Investment Market's latest technology admission has seen CentralNic Group join and raise £7 million in the process.

Internet registry service provider CentralNic Group has joined London's junior exchange and will now look to grow its number of contracts.

CentralNic makes its money from selling domain names used by web addresses, which are either 'top level' or 'second level' domain names.

The listing on the Alternative Investment Market (AIM) has netted CentralNic £7 million through the placing of shares at 55p each.

It is now hoped that its admission will allow the business to build its global distribution network and acquire new interests in 'top level' domains (TLDs) and expand its own retail business. Also on the cards is obtaining contracts from governments to operating country codes, especially in developing markets.

Ben Crawford, CEO of CentralNic, comments, 'The response from investors to the IPO has reaffirmed our belief that CentralNic is a very attractive investment proposition, and the company now has the funds in place to take advantage of additional opportunities to win new contracts.

'We look forward to the next stage of growth and the launch of the new portfolio of TLD's which CentralNic will be servicing.'

The admission of CentralNic follows a number of other successful technology listings in the past year. Companies such as Chargemaster, blur Group, 2ergo Group and Outsourcery have joined AIM and are achieving solid growth.