Dodo plans expansion of power services
Cut-price Internet Service Provider (ISP) Dodo may float on the stock market in a bid to raise funds for expansion of its power services across Australia.
According to Dodo's managing director, Larry Kestelman, taking the telecommunications division of Dodo public could provide enough capital to launch Dodo Power and Gas Australia wide. Currently, the power provider is limited to Victoria.
"Yes, we are happy to look at (a float) and that could very much be part of our electricity play," Mr Kestelman told The Australian.
"If there was a particular requirement for aggressive growth in the electricity space, it is something we would look at either as a whole company or potentially just the power and gas component of it. It is something to be explored."
Dodo is the first company in Australia to offer consumers their power, gas, home phone and broadband services all on one bill.
Victorian residents can get up to 20% off their normal energy bill if they sign up to a 36-month contract and pay their bills on time.
In Australia, the four biggest ISPs - Telstra, iiNet, Optus and TPG – are all publicly listed on the stock exchange.