Darkpulse subsidiary Optilan to list on NYSE

Darkpulse

06/01/2022 16:28

By Emma-Victoria Farr
    LONDON, Jan 6 (Reuters) - Optilan, a British integrated
telecoms unit belonging to Darkpulse  DPLS.PK , will look to
list on the New York Stock Exchange in mid-2022, Darkpulse said
on Thursday.
    Darkpulse, an infrastructure solutions firm in the United
States, plans to list 20% of Optilan shares on NYSE and retain
80% ownership in the firm. It has no intention of spinning off
or otherwise divesting its majority ownership interest, the
company said in a statement.
    Coventry-based Optilan, which will remain a subsidiary of
Darkpulse after the initial public offering, said it intends to
expand its markets, consider acquisitions and grow in the
infrastructure technology (“infratech”) sector.  
    “I believe that an IPO would provide the greatest
opportunity for Optilan to grow the infratech category, serve
its customers, explore its own acquisition strategy and continue
building the best team,” Darkpulse Chairman and CEO Dennis
O’Leary said. 
    Optilan offers infratech consulting services, while
Darkpulse focuses mainly on smart infrastructure. The number of
shares and a price range for the offering is yet to be decided,
according to the company statement.   
    In September 2021, Optilan appointed former Rolls Royce Vice
President Kari Williams as sales and marketing director in an
expansion of its executive management team. In October,
Darkpulse announced that members of its executive team were
appointed to Optilan’s board of directors, with O’Leary becoming
chairman of the board.

 (Reporting by Emma-Victoria Farr; Editing by Mark Porter)
 ((emma-victoria.farr@thomsonreuters.com;))