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News and Announcements

Vonex Eyes ASX Listing through IPO

  • Published May 14, 2018 12:00AM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

KEY TAKEAWAYS:

  • In a recent update, Australian Telecommunication brand Vonex declared that it had earned substantial profits courtesy of the exemplary performances by its wholesale and retail divisions.
  • While the wholesale division looks after wholesale customers, the retail division has been catering to small and medium-sized enterprises with a lot of success as shown by its numbers.
  • As per the chairman of the company, Nicholas Ong, much of the profit is the outcome of Vonex’s ability to provide cost-effective solutions owing to having adopted innovative techniques. This has been a big boost to the company’s initiative in raising funds for launching an IPO and getting the company registered on the ASX.

Australian-based telecommunication brand, Vonex, recently released a trading update, reporting that its wholesale and retail divisions had earned substantial profits over the past nine months from March 2018. Being a specialized phone-and-Internet service provider, Vonex boasts of three core divisions, namely wholesale, retail and development; engineering. This is a big boost to the fund-raising campaign launched by this telecommunication entity in a bid to float an IPO on the Australian Stock Exchange.

The wholesale division of Vonex provides wholesale customers of the company with its own brand of PBX features and end-points and voice minutes. Much of the customer base of this division is comprised of carriers, ISPs’, large telecom companies and providers of cloud-based services. Having reported a 13% increase in sales over the last nine months, the division earned $106,000 as net profit.

The retail division, also known as Vonex Telecom, deals directly with customers, affiliates and channel partners and provides them with products like phone systems – mobile, Internet and business – and hosting platform for PBX. The recent months have witnessed a surge in retail customers at Vonex courtesy of a concerted effort by a channel partner network. Most of these
are small and medium-sized enterprises and they have been responsible for the massive profit earned by the company as compared to the previous years.

Nicholas Ong, Chairman of Vonex, described this lucrative run as an outcome of the ability of the two divisions to deliver cost-effective solutions and make optimal utilization of innovative techniques.

 

About Vonex Limited (IPO)

Vonex – an innovative telecommunications service provider consisting of three divisions: Vonex Wholesale – Supplies wholesale customers with PBX endpoints, voice minutes and advanced PBX features, which are on-sold under their own brand. Vonex Telecom – Sells mobile, internet, business phone systems and hosted PB X.Development and engineering – Develops world-first products to keep Vonex ahead of the market.

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