Superloop debuts on ASX
Fibre infrastructure company Superloop, founded by Australian technology entrepreneur Bevan Slattery, has officially listed on the Australian Securities Exchange (ASX) on Thursday.
The company was formed as a spin-off of Megaport's fibre assets in 2014 to allow Megaport to focus on its core business as a layer 2 elastic connectivity platform growing outside of Australia and Asia.
Superloop then immediately sold its Sydney, Melbourne, and Brisbane fibre assets to Amcom in exchange for a 15-year exclusive lease agreement to service customers including M2, iiNet, and Anittel.
Superloop still has 120km of ducts in Singapore, where the company is currently rolling out a fibre network that will connect the nation's datacentres to subsea cable landing stations.
After a successful IPO raising AU$17.5 million with over 2,300 investors, the company today listed on the Australian Securities Exchange.
The CEO of Superloop Daniel Abrahams told ZDNet that the company would now be focused on completing its network in Australia and provisioning customers from July this year.
"We said Q3 of 2015, and that's about to happen. We obviously have this fairly significant milestone under our belt now with the ASX listing, and we committed to make sure the investors understand the growth opportunity that Asia-Pacific represents in the telecommunications sector, and particularly in Singapore," he said.
"Post the IPO, it's getting the networks live, and getting the customers onto the networks."
Abrahams said that Superloop is focused on global telecommunication companies as clients, as well as content providers looking to get into the Asia-Pacific, particularly in Singapore with the explosion of data centres and subsea cable capacity in the region.
"We see Australia as an important market, but we recognise growth is going to come from Asia-Pacific," he said.
The Superloop team is just 12 employees at this stage, but Abrahams said the intention was to grow now that IPO has been completed.