NYSE Euronext today announced the listing on NYSE Alternext of LET’S GOWEX, Europe’s leading mobile internet specialist and “creator of WiFi Cities”.
Founded in 1999, LET’S GOWEX has a major presence in Spain's telecom sector, focusing on B2B services and facilitating relationships between telecom businesses/Internet access providers and their customers, including mobile operators and business users. LET’S GOWEX has made wireless technology a main focus of its operations since 2007.
LET’S GOWEX (ticker symbol: ALGOW) was admitted to NYSE Alternext by direct listing of the 11,511,431 shares making up its capital following a private placement amounting to €6 million. This was made with qualified investors in March this year and concerned 1,714,286 new shares at a subscription price of €3.50 each.
Market capitalization of LET’S GOWEX on the date of admission amounted to €40.3 million.
LET’S GOWEX is the fifth foreign company to join NYSE Euronext European markets since the beginning of the year.
“We are delighted with the admission of LET’S GOWEX to NYSE Alternext” comments Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext. “NYSE Euronext, the world's most liquid exchange group, will give LET’S GOWEX the benefit of outstanding visibility for investors and enable it to access the financing it needs for its development plans.”
“This milestone will allow us to continue growing in Europe and abroad, deploying a strategy based on establishing WiFi roaming between all parties, and thus creating economically sustainable WiFi-enabled cities,” adds Jenaro Garcia, Chairman and CEO of LET’S GOWEX. “Thanks to investors, partners and customers, we implement projects involving a wide range of stakeholders in city life, from universities and trade associations to companies, newsstands, and other users. Deploying and managing WiFi networks is a huge market where strong growth generates benefits for all stakeholders.”
NYSE Alternext, which recently celebrated its fifth year in operation, today counts 139 listed companies from countries including Belgium, Canada, China, France, Italy, Luxembourg, the Netherlands, Spain, the UK and the US. Together they have raised over €2.3 billion, half of this on the secondary market, and their market capitalization totals €4.4 billion.
