KUALA LUMPUR (April 20): Flexiroam Ltd, a budget international roaming service provider in the Asia-Pacific region, is seeking to raise up to A$12 million through an initial public offering (IPO) on the Australian Securities Exchange.

The company had recently opened its prospectus offer document, after it was reviewed by the Australian Securities and Investment Commission.
 
The Company is looking to raise up to A$12 million from its IPO, through the issuance of 60 million shares to the general public at 20 cents each (maximum subscription), with a minimum subscription of A$8 million. At maximum subscription, Flexiroam is expected to have an estimated market capitalisation of A$40.38 million.
 
Flexiroam is the ultimate parent company of Flexiroam Sdn Bhd — a Malaysian-based wholly-owned subsidiary.

Flexiroam Sdn Bhd offers international roaming services for outbound travellers from eight different countries, to destinations in over 200 countries and territories around the world.