Vonex Ltd (ASX:VN8) has made its ASX debut today after raising $6 million in a successful initial public offering (IPO) priced at 20 cents.
Funding from the IPO allows the company to focus on the expansion of its business units, as well as the development of new products.
The company is a telecommunications service provider with three core businesses, Vonex Wholesale, Vonex Telecom and Development and engineering.
Vonex generates revenue through the offering of phone and internet services.
Vonex Wholesale allows clients to white label
The wholesale product is sold on a white label basis to clients who are typically internet service providers (ISPs), carriers, and larger telcos and cloud service providers.
Vonex Wholesale supplies wholesale customers with PBX endpoints, voice minutes and advanced PBX features, which are on-sold under their own brand.
Vonex Telecom is the retail division
Vonex Telecom is the retail division of Vonex which is a full-service telecommunication service provider selling mobile, internet, business phone systems and hosted PBX to name a few.
These services are sold direct through Vonex or via affiliates or channel partners.
Development and engineering keeps technology ahead of the market
The Development and engineering department is the voice engineering department which maintains and develops products to keep Vonex ahead of the market.
This is the engineering and creative hub of the organisation where the company’s intellectual property is developed and tested before patents are lodged and the product is commercialised.
Main areas of focus
Vonex will initially be concentrating in three main areas:
• Rapidly expanding the retail division;
• Oper8tor App entering the beta trial stage, expected shortly; and
• Evaluating wholesale business with a view to expand offerings.