Pace considers US listing
Published: 11 Jan 2000 12:33 GMT
Pace Micro Technology (quote: PIC), the UK manufacturer of set-top boxes for digital television, is considering listing its shares in US markets as the company's business expands there.
The company said investors are increasingly becoming interested in Pace, as the company racks up more alliances for the future of television. In a recent breakthrough, Pace won a contract to supply at least 750,000 set-top boxes to Time Warner, the media group with extensive cable-television holdings. Time Warner Monday agreed to merge with AOL, the world's largest online service.
Pace's profits have been lifted by rising demand for digital set-top boxes in the UK. In the six months to 4 December profits, exclusing an exceptional charge of £3.3m, rose 53 percent to £12.7m.
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