Avanti Communications, a provider of satellite communications services, floated on AIM on Monday completing its demerger from the Avanti Screenmedia business.
The Avanti Communications Group currently provides satellite telecommunications services in Europe using leased satellite capacity. However, in December next year, it expects to have its own satellite in orbit, which will be called Hylas.
Hylas uses unique technologies to provide highly flexible and cost effective satellite capacity, the company says.
In the future, Avanti Communications intends to sell wholesale Hylas capacity to telecommunications and media network operators.
Avanti believes that the European broadcast and fixed satellite services market is a very attractive market given its high barriers to entry, high demand for capacity and, currently, the highest average prices in the world.
“Following the demerger from Avanti Screenmedia, we are delighted that Avanti Communications shares have this morning been admitted to AIM,” said chief executive David Williams in a statement.
“Obtaining a separate listing gives us an improved profile from which to build our wholesale satellite services and expand our customer base.
“As satellite spectrum is a finite resource and market demand is high, we expect these factors to provide significant advantages as we continue to build a large and valuable business.”
© Crimson Business Ltd. 2007