Smart Telecom raises £10 million

SHARES in Smart Telecom, the country’s third largest phone company, got off to a good start on their first day of trading on the London Stock Exchange.

Smart shares floated at 15p, raising £10 million (€14.6m) for the company, but gained as much as 30% by mid-afternoon. They ended the day at 18p.

The company said it will use the money raised to fund its expansion into the broadband internet market.