Xplornet explores IPO, sources say

Bloomberg reports that Canadian rural broadband specialist Xplornet Communications is working with Bank of Montreal and Royal Bank of Canada on an initial public offering (IPO) planned for this year, according to anonymous sources with knowledge of the matter who added that the New Brunswick-based fixed-wireless ISP has not yet decided on the stake size or price range. In May Xplornet’s management expressed the desire to examine new ways to continue growing, including a potential IPO, after revealing existing investors had put roughly CAD1 billion (USD758 million) into the company over the past decade.