1st Jul 2015 07:35
LONDON (Alliance News) - CentralNic Group PLC Wednesday said it has entered into a premium domain name sales agreement under which it will receive a cash consideration of USD1 million.
The internet domain name firm said that the proceeds will be used to further accelerate growth within the group, including acquiring additional premium domains to augment its existing portfolio. It did not say to whom it sold the domain names, nor list the domain names sold.
CentralNic said that since launching its business trading in premium domains, which are domain names that trade at a premium to normal retail pricing, in the second half of 2014, it has acquired around 4,000 domain names and has sold domains at prices ranging from USD3,000 to hundreds of thousands of dollars.
"This latest sale of premium domain names not only validates our trading business, but underscores the value of our domain name inventory, with in excess of 20,000 premium domains. We will continue to actively acquire new premium domains where we see real medium term trading value, while also selling those domains which we believe have reached maximum market potential," Chief Executive Ben Crawford said in a statement.
Shares in CentralNic were trading up 3.7% at 38.88 pence early Wednesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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