- Firstwave Cloud Technology (FCT) has entered a trading halt while it plans a capital raise
- Firstwave is a global cybersecurity company with a product portfolio that offers web, email, firewall and remote worker cybersecurity
- At this stage, it isn’t clear how much the tech stock plans to raise or what it will use the money for
- The company will remain in the trading halt until Friday, April 30, at the latest
- Company shares last traded at 10.5 cents on Tuesday, April 27
Firstwave Cloud Technology (FCT) has entered a trading halt while it plans a capital raise.
Firstwave is a global cybersecurity company with a product portfolio that offers web, email, firewall and remote worker cybersecurity.
The company expects to remain in the trading halt until Friday, April 30, at the latest.
At this stage, it isn’t clear how much the tech stock plans to raise or what it will use the money for, but the market doesn’t have long to find out.
While newsflow for the company has been relatively slow so far this year, a three-year contract was signed with Moja Access in February.
Moja Access is the Kenya-based operating company of CSquared. CSquared is a pan-African technology company which is a joint venture between Google LLC,
Japan-based Mitsui & Co, Convergence Partners, and the International Finance Corporation.
In the initial stages of the deal, FirstWave is deploying its recently launched FirstCloud WebProtect DNS platform for CSquared’s territories, including Kenya, Uganda, Ghana and Liberia.
The deal expands Firstwave’s cybersecurity-as-a-service portfolio to small and large end-customers in Africa.
Company shares last traded at 10.5 cents on Tuesday, April 27.