Small Talk: Teliti hopes Aim listing will help it raise £2m

After a failed attempt to list on London's growth market last year, the Malaysian IT services company Teliti International will take a second run next month with a stronger financial structure and a new broker to ensure the passage is smooth. The company, launched in 1990, is heavily focused on Malaysia and particularly on contracts for the Government. It is looking to grow and sees a public listing as crucial to its expansion plans. Teliti has three arms: Solutions, Services and Datacentre. The latter is in the process of building the largest such centre in Asia at 120,000 sq ft.

Teliti is in a very different situation to a year ago, when it was desperate to raise £11m from the markets but failed. It needed cash to kit out its data centre, but a collaboration with Cisco solved the issue. It ditched its broker and hired Daniel Stewart, and now it believes market conditions are right to go public. The company will list on the Alternative Investment Market next month.

It is looking to raise £2m to give it a valuation of somewhere around £20m. It needs working capital and will also use the funds to expand its sales teams. The company wants to expand its operations into the commercial sector in Malaysia and expand abroad, where it has operations in Singapore and Hong Kong. Japan will also become a key target.

So why London? It believes a UK flotation will bring it to the attention of European multinationals and a range of investors. It craves the transparency that goes along with a listing and says the move will maintain "a flexible financial structure for future growth". It chose AIM as it is too small to list on the Malaysian or Singapore markets. "The UK also understands the data centre investment story," a company insider added.

Taps turned back on at African Coal mine

It was a good week for African Coal as the South African government lifted its suspension of the company's integrated water use licence at its Vele Colliery mine. Its chief executive, John Wallington, said the announcement was a "turning point" for the company. "It was the last remaining piece to fall into the puzzle," he said.

African Coal has been forced to put the mine in mothballs for about 14 months because of the ban. This not only knocked production, but investor confidence also plunged. The share price inevitably followed. The shares, which had peaked in April 2010 at 2.5p, tumbled 70 per cent to as low as 0.7p last week. The Vele news brought a sigh of relief and a 23 per cent rise in the stock.

Unfortunately, coal will not be coming out of the ground at Vele until next January as it has to clear the mine and deal with the disruption of Christmas, but Mr Wallington believes it has now turned the corner.

Dark clouds gather above PV Crystalox

Sluggish demand for solar panels was already hurting PV Crystalox. But a steady slide turned into a freefall as the Oxfordshire-based company's shares fell 44 per cent on Friday after it said it would make a loss this year.

An expected recovery in its the largest panel market, Germany, now seemed unlikely, the company said, prompting "significant job losses" at its UK factory and reduced hours in Germany. PV Crystalox has yet to decide how many of its 140 UK staff will be made redundant. Reaction from analysts was less than enthusiastic. Peel Hunt said: "PVC is burning cash. Mothballing assets will help but the wider industry picture is unremittingly bad." The struggling producer of silicon wafers and ingots has shed 86 per cent of its market value this year. It is now worth just £31.4m.

Additional reporting by Steve Finch

Suggested Topics
Start your day with The Independent, sign up for daily news emails
Barn owls are among species that could be affected
charity appeal
Sarah Silverman (middle) with sister Reform Rabbi Susan Silverman (right) and sister actress Laura Silverman (left) at Jerusalem's Western Wall for feminist Hanuka candle-lighting ceremony
peopleControversial comedian stages pro-equality Hanukkah lighting during a protest at Jerusalem's Wailing Wall
Arts and Entertainment
The Bach Choir has been crowned the inaugural winner of Sky Arts’ show The Great Culture Quiz
arts + ents140-year-old choir declared winner of Sky Arts' 'The Great Culture Quiz'
After another poor series in Sri Lanka, Alastair Cook claimed all players go through a lean period
cricketEoin Morgan reportedly to take over ODI captaincy
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Carlton Senior Appointments: Private Banking Manager - Intl Bank - Los Angeles

$200 - $350 per annum: Carlton Senior Appointments: Managing Producer – Office...

Carlton Senior Appointments: San Fran - Investment Advisor – Ind Advisory Firm

$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...

Sheridan Maine: Commercial Finance Manager

Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Sheridan Maine: Regulatory Reporting Accountant

Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...

Day In a Page

Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas