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post Posted: May 27 2021, 09:25 PM
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Swoop Holdings Ltd (SWP) listed on the ASX today; very much an insiders splash, as the pathway was via listed entities (a backdoor listing). It raised $20 million at 50c a share in an IPO that was heavily oversubscribed. It closed at $1.25 on Day One.

On 07 Dec, 2018, Robo 3D Limited (RBO) changed its name and ASX code to STEMify Limited (SF1).
On 26 May, 2021, Stemify Limited (SF1) changed its name and ASX code to Swoop Holdings Limited (SWP).

Swoop Holdings Ltd (SWP) is an Australian proprietary company, focused on a fixed wireless and wholesale network infrastructure carrier with a high performance national and international network that is an alternative provider to the large carriers for delivering services in Australia. SWP is based in both NSW and Victoria, with offices in Sydney, Gosford and Warragul. SWP also provides services over the NBN fixed line and fixed wireless networks nationally to residential and SME customers who cannot connect to the Swoop fixed wireless network.

SWP operates under 3 brands; Swoop Wholesale, Swoop Business and Swoop Broadband. The Company has completed the acquisition of:
1. 100% of the shares in Cirrus Communications Pty Ltd (Swoop);
2. 58.90% of the issued capital in N1 Telecommunications Pty Ltd (NodeOne); and
3. 100% of the issued capital of Fiwi Pty Ltd which in turn holds the remaining 41.10% of the issued capital of NodeOne,

Swoop operates one of the country's largest fixed wireless networks with 246 towers spread across all states and has plans to build more towers and gobble up rival operators. The Chairman, James Spenceley, said Swoop would look to play to its strengths in outer suburban and regional areas rather than well serviced and highly competitive inner city markets dominated by Telstra, Optus, Vocus and TPG.

Mr Spenceley said there could be a round of consolidation in the sector similar to the period late in the 2000s and early in the 2010s when the likes of Vocus, TPG and iiNet were making acquisitions. He said some small businesses had grown to a scale that made them attractive takeover targets.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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