People Telecom to list in NZ

ASX-listed ISP People Telecom has announced its intention to list on the New Zealand Stock Exchange on 2 December.

New Zealand-based investors had already bought some 10 million shares in People Telecom - nearly 10 percent of the company's stock outside its four major shareholders, People Telecom said in a statement.

The listing would let existing and potential shareholders and institutions in New Zealand to more easily trade in the company and get access to company announcements, the company said.

Ryan O'Hare, CEO at People Telecom, said the listing would help the ISP enhance its service offerings to New Zealand customers.

"This listing is another step in enabling our New Zealand investors to feel at home when investing in our company," O'Hare said.

People Telecom had a "close working relationship" with New Zealand telecommunications group Call Plus, the company said.

The Australian service provider planned to further that relationship and commercially partner other New Zealand telecommunications companies, People Telecom said.

A focus would be Australian business customers with offices or operations across the Tasman, the company said.

"As part of People Telecom's VoIP offering and its peering relationship with Call Plus, the company can now offer free calls between its internet customers and any Call Plus customers in New Zealand," People Telecom said.

People Telecom's New Zealand Stock Exchange code would be PEO, the company said.

The service provider also has Australian partnerships with multimedia provider Destra, satellite broadband specialist Multiemedia and security vendor Network Box.

O'Hare has previously claimed he wants to sign up as many partners as possible for People Telecom.

"It's cheaper than [simply] running your own direct sales force," O'Hare said at the time. "In our business, we need about four channels."

Fifty percent of the company's were direct. Its channel comprised dealers and SMB business IT providers, he said then.