Cellcast To Raise $8 Million in London IPO Next Month

(sub. req.) Cellcast, the London-based mobile voting and community firm, is planning to float on Alternative Investment Market (AIM) in London next month, reports FT. It plans to raise about $ 8million by floating just over 20 per cent of its shares.
The company has developed interactive components to TV shows, to prompt viewers to use their mobile phones to vote, play games or gamble. Its services range from making on-air content to running the billing and computer server systems that process viewers’ response.
According to the latest Companies House filings for privately-owned company, which will be rebranded for the float, group turnover rose from $5.6 million to $14.8 million in the year to December 31. Pre-tax losses during the period were $1.3 million, compared with $1.28 million in 2003.
Related: Cellcast Partners Essel Group To Launch India’s First Live 24-hour Interactive Gaming Channel

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