Fixed-wireless firm to list on ASX


Monday, 01 March, 2021


Fixed-wireless firm to list on ASX

Stemify Limited has announced to the ASX that it has conditionally agreed to acquire 100% of Swoop Telecommunications and NodeOne, in a deal worth $61.3 million.

The combined national telco plans to relist in late April, under the name “Swoop Holdings Limited” with ASX Code SWP. The listing will seek to raise $20m at an issue price of $0.50 per share.

Funds from the capital raising will enable Swoop to further expand its infrastructure nationally and provide funding for potential acquisitions to grow its products and offerings to customers.

The proposed board will comprise of Spenceley as chairman as well as telco industry veterans, including Amcom founder Tony Grist and Pipe Networks, Vocus and Superloop alumnus Matt Hollis.

“This is an extremely exciting time in the telecommunications industry and this listing will enable us to capture more of the market, expand our offering and allow us to provide more services to customers across Australia,” said CEO of Swoop, Alex West.

Swoop, formerly known as Cirrus Communications, was one of the earliest fixed-wireless operators in Australia. Founded in 2004 the business operates one of the largest fixed-wireless networks with 220 towers across all mainland states and has 110 staff.

NodeOne was founded in Geraldton in 2009 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.

Image credit: ©stock.adobe.com/au/kstudija

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