Comms provider Gamma now trading on AIM

First day of initial public offering dawns for telecoms group

Comms provider Gamma Communications has been listed on the AIM exchange as of this morning, with a market capitalisation of £162.5m.

Its ordinary shares, initially valued at 187 pence each, are being dealt under the AIM:GAMA ticker.

Bob Falconer, chief executive of Gamma, said in its announcement that the firm had had a pleasing response to the news of its IPO.

"Being a public company is an important development for Gamma.

"We have exciting growth opportunities in our end markets, and we expect that the higher corporate profile arising from a public company status will help us to continue the momentum we have enjoyed over the past few years. We are looking forward to life as a listed business," Falconer (pictured) said.

B2B provider Gamma's services include cloud PBX, inbound call control, and SIP trunking. The firm aims to meet the voice, data and mobility requirements of businesses using its expertise and own intellectual property. It also offers "business-grade" broadband, and Ethernet, and delivers its offering via some 650 UK resellers.

According to its announcement, it sees the BT Openreach fibre rollout, as well as mobility technology adoption, as drivers for its own growth.

This includes, it said, the Ofcom-regulated rights of access to BT's network; the growth in smartphones as the device of choice for accessing applications; the convergence of communications and IT; and the mass adoption of VoIP for business use.

The IPO is expected to enhance its credibility, improving access to large enterprise and public sector prospects as well as benefiting shareholders and funding, it added.