Congratulations to MatthewHare, Chief Executive of Gigaclear, on the announcement that the company aims to go public in October.
Having already won £5 million backing from the high-profile firm Woodford Investment Management, Mr. Hare’s company now intends to float on AIM, the London Stock Exchange’s international market for growing companies. Oriel Securities is advising on the float.
Gigaclear provides ultrafast and dependable broadband connectivity to rural UK communities currently lacking good connections. Their largest competitor, BT, currently connects these underserved communities with either slower copper lines or fibre lines that only extend to the street-wide service cabinet. Gigaclear, on the other hand, provides broadband direct to the home, thus ensuring a much faster and more reliable connection.
In a recent Financial Times report, Mr. Hare commented that “there are rural communities cut off from the broadband revolution. Our opportunity lies in bridging that divide, building ultrafast, pure fibre networks for rural communities that not only can rival urban speeds but can often beat them, hands down.” In order to bridge this divide, Gigaclear aims to raise about £20 million from the initial placement and a total of £180 million over the medium term, allowing it to make ultrafast fibre broadband available to 200,000 rural homes.
For more information about Gigaclear, please visit http://www.gigaclear.com
For further details about qualifying communities, see http://www.gigaclear.com/can-i-get-it.
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