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
Life and Style
love + sex A new study has revealed the average size - but does that leave men outside the 'normal' range being thought of as 'abnormal'?
Arts and Entertainment
TV
Voices
The Palace of Westminster is falling down, according to John Bercow
voices..says Matthew Norman
Sport
Steve Bruce and Gus Poyet clash
football
News
Graham Norton said Irish broadcaster RTE’s decision to settle was ‘moronic’
TV
Arts and Entertainment
Jake and Dinos Chapman were motivated by revenge to make 'Bring me the Head of Franco Toselli! '
arts + ents Shapero Modern Gallery to show explicit Chapman Brothers film
Arts and Entertainment
Kurt Cobain performing for 'MTV Unplugged' in New York, shortly before his death
music Brett Morgen's 'Cobain: Montage of Heck' debunks many of the myths
ebooks
ebooksA special investigation by Andy McSmith
Life and Style
life
Sport
Brendan Rodgers
football The Liverpool manager will be the first option after Pep Guardiola
News
Amazon misled consumers about subscription fees, the ASA has ruled
news
Arts and Entertainment
Myanna Buring, Julian Rhind-Tutt and Russell Tovey in 'Banished'
TV Jimmy McGovern tackles 18th-century crime and punishment
Arts and Entertainment
Paul Whitehouse as Herbert
arts + ents
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Sales Executive - OTE £40,000

£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...

Austen Lloyd: Law Costs HOD - Southampton

£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...

SThree: Recruitment Resourcer

£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...

Ashdown Group: Junior Application Support Analyst - Fluent German Speaker

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Day In a Page

Syrian conflict is the world's first 'climate change war', say scientists, but it won't be the last one

Climate change key in Syrian conflict

And it will trigger more war in future
How I outwitted the Gestapo

How I outwitted the Gestapo

My life as a Jew in wartime Berlin
The nation's favourite animal revealed

The nation's favourite animal revealed

Women like cuddly creatures whilst men like creepy-crawlies
Is this the way to get young people to vote?

Getting young people to vote

From #VOTESELFISH to Bite the Ballot
Poldark star Heida Reed: 'I don't think a single bodice gets ripped'

Poldark star Heida Reed

'I don't think a single bodice gets ripped'
The difference between America and Israel? There isn’t one

The difference between America and Israel? There isn’t one

Netanyahu knows he can get away with anything in America, says Robert Fisk
Families clubbing together to build their own affordable accommodation

Do It Yourself approach to securing a new house

Community land trusts marking a new trend for taking the initiative away from developers
Head of WWF UK: We didn’t send Cameron to the Arctic to see green ideas freeze

David Nussbaum: We didn’t send Cameron to the Arctic to see green ideas freeze

The head of WWF UK remains sanguine despite the Government’s failure to live up to its pledges on the environment
Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Set in a mythologised 5th-century Britain, ‘The Buried Giant’ is a strange beast
With money, corruption and drugs, this monk fears Buddhism in Thailand is a ‘poisoned fruit’

Money, corruption and drugs

The monk who fears Buddhism in Thailand is a ‘poisoned fruit’
America's first slavery museum established at Django Unchained plantation - 150 years after slavery outlawed

150 years after it was outlawed...

... America's first slavery museum is established in Louisiana
Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

The first 'American Idol' winner on how she manages to remain her own woman – Jane Austen fascination and all
Tony Oursler on exploring our uneasy relationship with technology with his new show

You won't believe your eyes

Tony Oursler's new show explores our uneasy relationship with technology. He's one of a growing number of artists with that preoccupation
Ian Herbert: Peter Moores must go. He should never have been brought back to fail again

Moores must go. He should never have been brought back to fail again

The England coach leaves players to find solutions - which makes you wonder where he adds value, says Ian Herbert
War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn