Friday 16 November 2018

Zamano makes debut on IEX

Emma Kennedy

MOBILE services firm Zamano yesterday became the 26th company to trade on the Irish Enterprise Exchange, the Irish stock exchange's specialist market for small to mid-sized companies.

Shares in the company closed at ?0.44 yesterday, up one cent on its first day of trading.

Launching on the IEX marks the successful completion of the company's secondary listing - Zamano has traded on London's Alternative Investment Market since the end of October last year. The share price has been drifting gradually upwards since the beginning of the month and closed at 28½p in London yesterday evening.

Zamano hopes that listing on the IEX will further broaden its shareholder base and enhance liquidity.

Managing director John O'Shea said Zamano had decided to list on the IEX due to the strong demand among Irish investors for euro-denominated Zamano stock.

Zamano was established in 2000 and specialises in mobile data services and provides both business-to-business and direct-to-consumer services.

The company, which has offices in Dublin and London, employs 34 people.

In 2006, it commenced sales into the Australian market and was ranked fifth in the Deloitte Technology Fast 50.

Mr O'Shea said that it will "continue to focus on further strategic acquisitions, increasing investment in new technologies and expansion into new territories to drive growth and reward investor confidence".

He said that he was hopeful that Zamano's share price would appreciate further by year-end.

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