United Networks chairman Anthony Ghattas
STREET TALK Updated Jan 11 2017 at 11:41 PM
By: Sarah Thompson, Anthony Macdonald, Joyce Moullakis
Former Macquarie Group boss Allan Moss is among the backers of virtual mobile network company United Networks, which will debut on the ASX boards on Thursday.
It is understood Moss took shares as part of the $25 million company's initial public offering and joins other high-profile backers including property developer Bob Ell's Leda Holdings and the Robertston family's Farjoy Pty Ltd.
Also on the register is the Millner's Washington H Soul Pattinson, which has made plenty of money backing telecommunications technology firms and maintains a $1.5 billion-odd stake in TPG Telecom.
United Networks provides white label WiFi and voice calls for customers travelling offshore. It white labels packages for 29 Australian corporates, including Flight Centre.
The company was founded by Nick and Anthony Ghattas, who are chief executive officer and non-executive chairman respectively and each own 29.9 per cent at the float. Corporate adviser and banker Charbel Nader also sits around the boardroom table as an independent director.
APP Securities led the IPO.
United Networks recorded $7.6 million revenue in the 2016 financial year and $3.2 million gross profit. The company's shares were scheduled to start trading at 11am on Thursday.