Final Funding and Rapid Growth for Angel Telecom Corporation
Angel Telecom Corporation (OTC:AGLT). As planned, Angel Telecom has secured the second tranche of its capital increase for the required working capital of USD 6 million. In addition, the company has offered a financially strong investor from the Sultanate of Oman the opportunity to make a concluding seven-figure investment. This offer is motivated by strategic reasons, as it will allow Angel Telecom to accelerate its growth in the Middle East and Africa.
In the second quarter of 2012 Angel Telecom managed not only to double its revenues and profits, its strategy even allowed it to increase its per minute rates by 84%. In light of this inflow of equity capital, the company’s fundraising efforts can be terminated and the intended IPO at a free-trading stock exchange can be pursued within the current year.