M2 Communications has become a major stakeholder in Inabox Group Limited, the company behind telco wholesale aggregator, Telcoinabox.
M2 sunk around $2 million into Inabox Group in its capital raising before its IPO, purchasing around 12% of the shares being issued by the company.
Inabox Group Managing Director and CEO, Damian Kay says the investment will work to strengthen the existing relationship between Inabox Group and M2.
“This investment may also present new commercial opportunities for both companies moving forward,” he said.
In a bid to attract additional investors, Inabox group has extended its current offer $1.20 per share until 5pm July 4.
The company expects to list on the ASX on July 12.