TeleCity has set the pricing range for its planned flotation that would value the company at £689m.
TeleCity provides accommodation for web servers and telecommunications infrastructure. It has set a pricing range for the issue of 867p-£11.41.
It hopes to raise about £130m and use the funds to expand its networks of co-location centres. It currently has six – two in London and others in Edinburgh, Amsterdam, Stockholm and Manchester. It aims to have 12 by the end of the year and has identified a further 30 across Europe. It wants 40 within two years.
Financial Times 11/05/00 page 40
The Independent 11/05/00 page 21 (The Investment Column)
The Independent 11/05/00 page 26
