Teliti International looks to raise £15m

Teliti International, a Malaysian IT services and data centre group, has revived plans to float on Aim.

The group will this week hold roadshows in Singapore and Hong Kong before moving to London next week to market its initial public offering. Teliti International hopes to raise £15m by floating 40 per cent of the group, which would value it at about £36m.

Despite a strong pipeline of companies at the beginning of the year, there have been relatively few IPOs in the UK so far this year as market volatility sapped investor confidence.

According to Dealogic only three technology companies have listed in the UK since January, raising a total of £588m.

Teliti International, which is being advised by Daniel Stewart, postponed its plans to list earlier in the year to allow it time to discuss a co-operation agreement with Cisco, the US technology group. The move will see the two develop a state-of-the-art green data centre on the outskirts of Kuala Lumpur. Some of the proceeds of the listing will be used to help fund that project.

Teliti International is a subsidiary of Teliti Computer, which is part owned by the Malaysian armed forces.

The Malaysian group, which is looking to expand its data centre business globally, has chosen to float in London over other destinations to raise its international profile.

IT companies are increasingly positioning themselves to benefit from a shift towards greener technologies.

Companies such as Teliti, Capgemini, Google and Microsoft are building greener data centres that use less power and water than traditional data centres.

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