LONDON (WiMAX Day). Redline Communications had its debut today on the London stock exchange in a placement of 13 million shares. The placement was well received by traders early today and at mid-day the market capitalisation stood at £78.9 million ($US 155 million). At the issue price, Redline raised £13 million ($US 25.5 million). The flotation on the AIM market was undertaken by Canaccord Adams Limited and
CIBC World Markets. Previous investors in Redline included Matrix Partners, US Venture Partners and GF Private Equity Group. Redline joins a growing list of publicly-quoted WiMAX equipment vendors that includes Alvarion and Airspan. Redline has had a string of successes in the last few months, including new product placements in Iraq, Pakistan and Chile, as well as being named among the 2006 “Best of WiMAX World” award program honorees.