The latest public float by an Australian cloud provider looks set to go ahead within weeks, with shareholders approving Newlease's reverse takeover of FRR Corporation.
The cloud provider now expects to list on the ASX on 14 April under the new name Rhype, following completion of the takeover.
The takeover was announced in December and shareholders have now voted to approve the acquisition which is expected to be complete by 8 April. Once compliance with ASX listing rules has been achieved, the company expects to list on the ASX under its new name on 14 April.
The float will be one of several this year by Australian cloud providers, with Bulletproof Group Limited debuting on the ASX in January and CloudCentral expecting to list in June.
Newlease saw 36 percent year-on-year growth in the 2013 financial year. The company has previously flagged plans to expand into Asia.
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