Western Australian fixed wireless provider NodeOne is listing on the ASX. Founded by Nick van Namen and backed by Andrew Forrest’s Tattarang, Amcom Founder Tony Grist and CVC emerging markets, NodeOne will become part of a combined national telco that plans to list in late April, under the name Swoop Holdings Limited.
NodeOne will continue to operate under their current brand and service Western Australia with fixed wireless and NBN services, with local delivery and support staff.
Speaking about the proposed listing, major investor in NodeOne Tony Grist said “The emerging opportunities in the Telco sector provide a great backdrop to accelerate the growth of NodeOne. With a core management team of ex Amcom staff led by former Amcom COO Richard Whiting, it is an exciting time to again be part of a great Western Australian story.”
NodeOne CEO Richard Whiting said: “Joining forces with Swoop, a highly-respected, eastern states based telco with an experienced board and management team, will enable us to expand our expertise and deliver an even better internet service to Western Australia.”
“NodeOne has experienced accelerated growth over the last 12-18 months and we are looking forward to having access to the expertise and knowledge the Swoop team brings,” Whiting said. “We have some excellent opportunities and being able to provide solutions on a national basis combined with the strength of being part of a larger group will allow us to leverage these opportunities with the confidence of capital behind us.”
The listing will seek to raise $20m at an issue price of $0.50 per share and funds from the capital raising will enable Swoop and NodeOne to further expand their infrastructure nationally and provide funding for potential acquisitions to grow its products and offerings to customers.
NodeOne was founded in Geraldton in 2009 by Nick van Namen and has been at the forefront of internet and fixed wireless technology in Western Australia, introducing high speed fixed wireless and NBN services to a broad customer base.
The full ASX announcement can be found here.