UK-based telecommunications operator Interoute Plc is seeking admission to London’s Alternative Investment Market by way of a placing. The year-old company currently offers a wholesale international phone service to other telecommunications companies using its Gateway network located on London’s Docklands. An International Simple Resale license from the Department of Trade & Industry allows the group to interconnect fully to all British Telecommunications Plc and Mercury Communications Ltd’s national networks at regulated licensed operator interconnect rates. Within its first year of trading Interoute has established retail operations in France and Switzerland and has installed switching equipment in Germany and the Netherlands. Corporate affairs manager Charlotte Murray said the group intends to raise about 10m pounds from the placing to develop its pan-European network and increase its range of value-added services. This includes an alliance with World Telecom Plc to market telephone cards to niche markets. To date deals have been agreed with five soccer clubs. The plastic pre-paid cards bear images of club players – a sort of collectors card with a purpose, and fans buy them for 5 pounds a throw. The flotation is due towards the end of this month, and first dealings are expected in the first week of October. John East & Partners Ltd will advise and HSBC James Capel has been nominated broker to the issue.
