There will soon be another telco on the ASX. Mobile virtual network operator (MVNO) Amaysim, which uses the Optus 4G network, intends to list next month.

The prospectus it has lodged with the Australasian Securities and Investment Commission (ASIC) says the offering is expected to raise $207 million, based on a price of $1.80 per share. This equates to an enterprise value of $298.4 million and a share market capitalisation on listing of $317.1 million.

Amaysim’s founders and Rolf Hansen and Peter O’Connell will maintain a stake in the company, and have agreed to a voluntary escrow agreement that prevents them selling any of their shares in the first financial year. One third of the shares are held by German private equity company Shark Holdings.

Chairman of the public company will be Andrew Reitzer, former CEO of Metcash. He said the board was pleased to offer investors the opportunity to participate in the future of an Australian success story. “Since launching in 2010, Amaysim has become one of Australia’s fastest growing mobile service providers (MSPs), with a 93.2% subscriber compound average growth rate. It is now the fourth largest independent MSP in Australia by number of subscribers.” Amaysim now has over 700,000 subscribers.

“It’s an impressive track record, and we are well-positioned to continue to build on this solid market position. Our competitive value offering, with a simple BYOD concept, no lock-in contracts and transparent pricing attract a broad and diversified range of subscribers.”

Amaysim CEO Julian Ogrin said: “We have has developed into a compelling challenger brand with the strength of our online-led business model allowing us to provide a superior user-friendly customer experience in Australia’s fast-evolving mobile services market.

“We’re excited about the IPO, welcoming new shareholders and realising the opportunities an ASX listing presents to amaysim for additional financial flexibility and improved access to capital markets.”

Investec Australia is the financial advisor to amaysim, Goldman Sachs Australia and Macquarie Capital are joint lead managers, and Clayton Utz is legal counsel. The broker firm offer opens 1 July and closes 9 July, with the issue and transfer of shares on 14 July 2015. Amaysim will start trading on the ASX on 16 July 2015.

The prospectus is available at www.amaysimsharesoffer.com.au.