Data networking specialist Fibernet Group Plc has announced plans to float on the London Stock Exchange this summer. The Aldermaston, UK-based company launched TANet Total Area Network, a nationwide communications service that provides data links at rates up to 622Mbps, in October 1995 after securing a public telecommunications operator’s license from the Department of Trade & Industry in May. Managing director, Charles McGregor said the firm looks to raise about 10m British pounds, all of which will be spent developing the network. Singer & Friedlander, the merchant bank that specializes in corporate finance advice for medium-sized companies, has agreed to sponsor the flotation, and broker Greig Middleton will underwrite the issue.
