PHILSTAR | Louella Desiderio
Asiatel CEO Jasjit Singh Anand said in a briefing the company raised C$1 million ($700,000) from the listing, which will be used to support expansion plans.
He said that the company decided to list on the TSX as Canada is seen as an important and strategic market.
“We look at this as a listing that opens doors for us and the Canada market is very vibrant,” he said, noting that the country is home to many small and medium enterprises and junior companies.
“We see a lot of play on this side of the industry that we can do business here,” he said.
At present, Canada is also home to some of Asiatel’s clients.
Anand said that Asiatel’s listing is timely as Canada and the Philippines are currently negotiating a free trade agreement.
Forward-looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Forward looking statements in this news release include, but are not limited to statements regarding strategic acquisitions, scaling beyond current footprint in the SME market, future growth, shifting towards higher-value KPO, accessing capital markets to fund growth or acquisitions and expanding into ASEAN, Latin American or European markets. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.