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PHONE CARD COMPANY TO OFFER IPO
Published November 28, 1994
Global Telecommunication Solutions (GTS) plans to go public before the end of the year. GTS has "carved a niche in the mushrooming" $200M phone-card market by acquiring the rights to high profile licenses, including the NFL, MLB, MLBPA and Marvel Comics. The proposed NASDAQ offering would trade under the TELE symbol, with 1.5M shares offered at $5 in hopes of raising cash to grow GTS. The company plans to use the IPO to finance additional marketing activities and to establish a "better distribution network which would include phonecard vending machines in sports arenas and travel centers" (Terry Lefton, BRANDWEEK, 11/28).