WiMAX firm prepares for AIM

Buchanan Communications is to advise Canadian firm Redline Communic­ations - which provides WiMAX broadband technology - on a forthcoming IPO.

The firm, which focuses on emerging markets lacking copper-wire infrastructure, plans to join AIM in November. It will be one of the largest tech listings on AIM this year and will be the first WiMAX firm to float.

Redline creates broadband wireless networks for entire regions for both fixed-line and mobile use.

The account was won after a three-way pitch. The IPO could see Redline generate more than £80m. Although Canadian, AIM will be its sole listing.

Redline is the first company to achieve accreditation from the broadband technology sector's certification body, the WiMAX Forum.

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