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Homeland security firm to list on ASX
September 6, 2005
Direct link:
http://www.theage.com.au/news/Business/Homeland-security-firm-to-list-on-ASX/2005/09/06/1125772507547.html
Supplier of Australian homeland security products to government agencies and
police, XTEK Ltd, has raised $14 million through an initial public offering
(IPO).
XTEK Ltd, which is scheduled to list on the Australian Stock Exchange on
September 15, 2005, raised the money through the over-subscribed issue of 28
million shares at 50 cents per share.
XTEK managing director Nigel French said there had been strong institutional
and retail demand for the offer.
He said the company supplied products and services relating to the
protection of national borders from the threat of terrorism and politically
motivated violence.
"Homeland Security is now an integral part of Australia's defence policy and
independent research indicates that demand for better security products and
services will continue to grow," Mr French said.
The funds raised through the IPO will be applied to the purchase and
development of intellectual property, expansion of international
distribution and working capital for core activities, the company said.
Tristar Corporate were advisors to the offer, with Tricom Equities as
sponsoring broker.
Establishment in the late 1970s, XTEK has developed a comprehensive
solutions package for the Homeland Security market, with a capability to
integrate policies, procedures, training and equipment.
XTEK offers an extensive range of bomb search and render safe equipment,
including bomb disposal robots, X-ray and mail screening devices, forensic
equipment and general security products.
Customers include the Australian Defence Force, federal and state police
forces, their bomb disposal squads, federal and state government
departments, ministerial offices, courts throughout Australia, airports,
public venues and major national and international companies.
XTEK was a major supplier of security products and services to the Sydney
Organising Committee of the Olympic Games in 2000.
Supplier of Australian homeland security products to government agencies and
police, XTEK Ltd, has raised $14 million through an initial public offering
(IPO).
XTEK Ltd, which is scheduled to list on the Australian Stock Exchange on
September 15, 2005, raised the money through the over-subscribed issue of 28
million shares at 50 cents per share.
XTEK managing director Nigel French said there had been strong institutional
and retail demand for the offer.
He said the company supplied products and services relating to the
protection of national borders from the threat of terrorism and politically
motivated violence.
"Homeland Security is now an integral part of Australia's defence policy and
independent research indicates that demand for better security products and
services will continue to grow," Mr French said.
The funds raised through the IPO will be applied to the purchase and
development of intellectual property, expansion of international
distribution and working capital for core activities, the company said.
Tristar Corporate were advisors to the offer, with Tricom Equities as
sponsoring broker.
Establishment in the late 1970s, XTEK has developed a comprehensive
solutions package for the Homeland Security market, with a capability to
integrate policies, procedures, training and equipment.
XTEK offers an extensive range of bomb search and render safe equipment,
including bomb disposal robots, X-ray and mail screening devices, forensic
equipment and general security products.
Customers include the Australian Defence Force, federal and state police
forces, their bomb disposal squads, federal and state government
departments, ministerial offices, courts throughout Australia, airports,
public venues and major national and international companies.
XTEK was a major supplier of security products and services to the Sydney
Organising Committee of the Olympic Games in 2000.
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