Pennytel Holdings has appointed Barclay Pearce Capital as its Lead Manager for its expected IPO in H1 2022.
Operating since 2013, Pennytel was historically a budget consumer mobile service reseller that was acquired by Pennytel Holdings from MNF Group (ASX:MNF) in early 2021.
In June 2021, Pennytel acquired Focus Communications, a B2B telecommunications business operating in Victoria, and now operates two businesses under its B2C and B2B brands, with a retail NBN product launched in September 2021.
In the lead up to an ASX listing in H1 2022, Hon. Stephen Conroy has joined the Board of Pennytel as Chairman. Conroy was previously Minister for Broadband, Communications and the Digital Economy in the Rudd Government, and the architect behind the first plans for the National Broadband Network (NBN).
Pennytel's growth strategy will focus on organic customer growth in both its B2B and B2C businesses, as well as pursuing a suite of strategic acquisitions.
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