ray ban eyeglasses cheap Mobile phone company TPO seeks London listing to fund U.S. expansion
Reuters 9 hours ago
LONDON (Reuters) - The People s Operator (TPO), a mobile phone company that donates 10 percent of each user s bill to charity, is planning to list its shares in London to raise funds for expansion into the United States, a source familiar with the deal said.
The London-based operator, which has more than 10,000 customers in the UK, intends to offer a minority stake to investors in a listing on the Alternative Investment Market (AIM) to be announced as early as this week, the source said.
The company is being advised by FinnCap and could be valued at more than 100 million pounds, the Sunday Telegraph newspaper reported, citing financial sources.
TPO, which is backed by Wikipedia founder Jimmy Wales, launched a pay-as-you-go operation in November 2012 and followed in April last year with a contract offering an unlimited voice, mobile and data contract.
Customers can nominate the good cause to which 10 percent of their mobile spend will be directed and the company also pledges to pay 25 percent of its profit to charity.
(Reporting by Karolin Schaps; Editing by David Goodman)
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