Aussie Broadband prepares for ASX listing
- 24 October, 2019 09:44
Brian Maher, Aussie Broadband
Telecommunications provider Aussie Broadband has appointed Brian Maher as its new CFO as the company prepares to go public next year.
Maher joins from online real estate agent comparison service Local Agent Finder where he was chief financial officer and company secretary for the past three years. He has almost 30 years' experience across different industries having also worked for Suncorp Group, Health.com.au, KPMG and others.
Aussie Broadband managing director Phil Britt, who has been acting as CFO for the company, said Maher will bring strategic, financial and management competencies to Aussie Broadband.
"Brian is a great addition to our leadership team. He has a strong financial background, with extensive exposure to all business types including ASX, private equity, private company, professional services, high growth start-ups and not-for-profit," Britt said. "This appointment is crucial at a time of rapid growth and ahead of our IPO listing."
Maher said he looks forward to playing a role in the company's future development.
On 30 September the Australian Financial Review published news of the telco's intention to list in 2020.
The company soon confirmed its plans on its blog saying it is in the midst of a pre-IPO capital raising as it prepares for listing on the Australian Securities Exchange (ASX).
"We’re disappointed to see it [news of IPO] leaked, as that’s not the way we do business – we prefer to be open and transparent once the deal is done," Britt said at the time.
"However, we’re happy to confirm that this is the path Aussie Broadband is taking."
The pre-IPO phase gives the company the capital to continue its strategy and bring more products and services to the market.
"To date, we have invested heavily from our own pockets and with a small amount of debt. We’ve built the business from 18,300 to 163,000 customers in under three years and I’m incredibly proud of what we have achieved," Britt said at the time.
“We’ve shown we can manage rapid growth and still maintain our service and experience. It’s a model we intend to continue.
"Having access to $25 million in the bank certainly opens up possibilities for us to grow and expand. We have a comprehensive strategy that will be revealed over the coming months; this is just the first step," he added.