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April 10, 2006
Internet Exchange With Successful Float On AIM
On the back of its first year of profitability, IXEurope, a Pan European Internet connectivity and datacenter provider, floated on Friday on the AIM, the junior market in London.
It was a successful floation. Its share prices was trading at about 30pence today, implying a valuation of £52.64M. Its placement share price was 22 pence (£38M valuation). The proceeds of the IPO were to be used to pay down some debt and to invest in a new datacenter in London.
IXEurope was founded by Guy Willner and Christophe de Buchet in 1998 who led the company through the boom and bust of the tech bubble. During the downturn, while many of its rivals flopped, IXEurope managed to snap up several datacenters across Europe and now counts Merrill Lynch, Capgemini, Google and France Telecom as customers.
The founders had the backing of Swiss and British business angels, as well as European Acquisition Capital and BA Capital Partners, which are both private equity investors.
Posted on April 10, 2006 02:28 PM | Posted to IPO | Permalink
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