Timico intends to float on Stock Exchange

NEWARK-BASED communications company Timico Technology Group has announced that it intends to raise £15m and be listed on the London Stock Exchange by the end of May.

The company, of Beacon Hill Park, is expected to be listed on the exchange's Alternative Investment Market (AIM) on Friday, May 30 and will trade under the ticker TIM.

It said the new money would be used to acquire smaller ICT service providers within its four core competencies, to invest in its core network and to upgrade and expand its data centre capacity.

Timico was founded in 2004 by chief executive Mr Tim Radford, who sold his previous venture Project Telecom to Vodafone for £162m.

The company, which specialises in providing communications solutions including managed data networks, telephony services, mobile services, and cloud and data centre services, has invested £5m in building its capacity data centre at its Newark headquarters.

Its customers include Travis Perkins, Jimmy Choo, Informa, the Stroke Association, Mitsubishi Motors and the BMA.