Capital strategy and reverse listing on the ASX - Vocus Communications Ltd


Vocus Communications Ltd is an ASX-listed leading telecommunications provider of wholesale data centre, voice, peering and international Internet connectivity to telecommunications companies and ISPs. In December 2010, Vocus was named as the second fastest growing technology company in Asia Pacific with 11,306% revenue growth, and winner of the Deloittes Tech Fast 50.

Vocus engaged Hall Capital in late 2010 to advise the company in relation to a partial divestment and capital raising. Vocus decided to list on the ASX via a reverse takeover. After identifying a number of appropriate vehicles, Hall Capital selected and negotiated terms with First Opportunity Fund (FOF) - a vehicle managed by Investec Wentworth Private Equity (IWPE).

A Prospectus was prepared and issued detailing the acquisition by FOF of Vocus Group Ltd, a share placement to IWPE and the public offer of new shares at $0.50, also underwritten by IWPE, raising total additional proceeds of $6M. On 30 June 2010, FOF changed its name to Vocus Communications Ltd and was relisted on 8 July under the ASX code of VOC with a market cap of approximately $24.5M.

On 1 August 2011, VOC market cap was $138M with its share price at $2.31.