logo-loader
viewCentralnic Group PLC

CentralNic boss says more to come in China as he reveals US$4.5mln sale

Ben Crawford, chief executive of CentralNic PLC (LON:CNIC) said the firm plans to sell many more top level domain names next year in  China - the world's biggest market.

It comes after a decision from the Chinese Ministry of Industry and Information Technology (MIIT) that businesses and individuals in China will now be able to use the XYZ domain.

"It's been a long time in coming. There has been an awful lot of government red tape that we've had to get through but starting at the end of this week, Chinese nationals will be able to start building web sites on .XYZ domain names."

ICANN, the organisation in charge of regulating top level domains (TLDs), recently sanctioned a massive expansion of the range of TLDs that are available, offering alternatives to the likes of .com, .net. info and so on.

The XYZ domain name is by far the most popular new top level domain - the bit after the final dot of an internet address -  and has been sold around the world, including to Google and the founders of Skype, he said.

"We have the best-selling product selling in the biggest market," he said.

The firm has also just inked its biggest premium domain name sale for US$4.5mln, and the readies should be in the bank by the end of the year.

"We are very happy with the progress we have made in that part of the business."

Quick facts: Centralnic Group PLC

Price: 89.5 GBX

LSE:CNIC
Market: LSE
Market Cap: £169.01 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Centralnic Group PLC named herein, including the promotion by the Company of Centralnic Group PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

CentralNic Group PLC set to double in size with KeyDrive acquisition

Ben Crawford, chief executive of CentralNic Group PLC (LON:CNIC), tells Proactive's Andrew Scott they've entered into a conditional agreement to acquire the entire share capital of KeyDrive. The initial consideration is US$35.8 million, representing an enterprise value of US$44.5 million,...

on 16/7/18

2 min read