Hong Kong satellite firm Speedcast flat in Sydney debut
Tuesday, August 12, 2014
(Reuters) – Shares in Hong Kong satellite services firm Speedcast International Ltd were flat in their first day of trade on the Australian stock exchange after the company raised A$150 million in an initial public offering.
The company, which derives about a third of its revenue from Australian customers, sells satellite services to people in remote locations. It says it has 1,000 customers in 3,000 land sites, mainly in Asia Pacific, and 1,700 offshore rigs and vessels globally.
