Chunk of Aussie Broadband goes on sale ahead of IPO

Investors have been offered a stake in booming ISP Aussie Broadband ahead of its expected IPO.

A LinkedIn post made by a company called Accrutus Capital offers "A rare opportunity has become available to buy a minority 4-10% stake in Australia’s fastest growing internet service provider."

Industry newsletter Comms Day has identified the company on offer as Aussie Broadband, which confirmed it is indeed the subject of the post. Aussie Broadband execs told Comms Day a minority investor wishes to exit the business "for personal reasons" rather than a need for capital.

Aussie Broadband is thought to have nearly 100,000 NBN customers, which would make it comfortably a top ten player. It's also made a strong move into NBN wholesaling in recent times, in addition to strong performance in consumer markets.

The Accrutus post says  it is "entering accelerated growth with IPO planned within 2 years."

All of which makes for interesting times in telco-land, because the stake on offer could be attractive to rival telcos.