Dixons today announced it will proceed with a public share offering of its ISP, Freeserve.
Details of the IPO are scarce, with the company not saying on which exchange Freeserve will be listed or when the offering will take place. Easynet is the only other UK ISP to go public and is listed on the London Stock Exchange (LSE).
Speculation that Freeserve would be floated first surfaced in April when Credit Suisse First Boston and Cazenove were hired to explore future avenues for the ISP. see Newswire 12 April. The companies will jointly coordinate the IPO and act as brokers.
Commenting on the announcement John Pluthero, chief executive of Freeserve, said in a statement: "This is a significant step in Freeserve's strategic development and represents an important opportunity to continue to build on the quality of content and services that have made Freeserve a leading UK Internet portal."
Freeserve also announced two new management appointments: Nicholas Backhouse will join as chief financial officer on 1 July and David Melville has been appointed company secretary and general counsel of Freeserve.
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