Positioning the company for continued investment in products, services and expanded markets
Lod, Israel – June 12, 2017 – Telrad Networks, a global provider of innovative LTE broadband solutions, announced today that it has completed an Initial Public Offering on the Tel Aviv Stock Exchange (TASE). The company is now traded under the ticker name TLRD.
Ruthy Smadja, Telrad CFO stated: “The money raised in the IPO has put the company in a very secure position. We currently have a strong balance sheet with capital needed to fund continued growth and expansion. Telrad had a positive 2016 performance with total sales of $121 million, which positioned us well for the IPO this year.”
The Telrad management team celebrated the IPO in the opening bell ceremony at TASE on Thursday, June 8, 2017.
Ran Bukshpan, Telrad CEO added: “We are very pleased to have completed this IPO which is a significant milestone for the company. The capital raised will enable us to expand our business operations, to advance our products and services and to widen our activities in several markets such as North America, Africa and Latin America.
“The public has placed their confidence, and has invested, in our company. This new trust is exciting and will help drive our continued success.”
The company is focused on developing a unique, high-performance broadband LTE product portfolio. The solutions enable operators and service providers to offer high-speed connectivity for municipal, business and residential applications, especially in rural and underserved regions.
About Telrad Networks
Telrad Networks is a global provider of innovative LTE telecom solutions, boasting over 280 4G deployments in 100 countries. Telrad stands at the forefront of the technology evolution of next-generation TD-LTE solutions in the sub-6 GHz market. Since 1951, the company has been a recognized pioneer in the telecom industry, facilitating the connectivity needs of millions of end-users through operators, ISPs and enterprises around the world. (http://www.telrad.com)
About the Telrad Group
The Telrad Group is a dynamic multinational group of companies providing specialized solutions and services that facilitate a wide range of IT and telecom projects. The organization has over 400 of the most “radically innovative” employees worldwide, serving customers in over 100 countries. Each company in the Group, including Magalcom, Oasis Technologies and Telrad Networks, operates autonomously under a common umbrella.
This press release contains “forward-looking statements.” These statements include words like “may,” “expects,” “believes,” “scheduled,” “potentially” and “intends,” and they describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Telrad Networks Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
CONTACT: Investor Relations – Ruthy Smadja, CFO