xMax company seeks listing on U.K. market

According to a report in The Guardian, the Florida-based xG Technology, which claimed to develop a rival technology to WiMAX and 3G called xMax, is looking for a $650 million listing on the Alternative Investment Market by year-end. xMax supposedly broadcasts a phone or wireless broadband signal using significantly less power than conventional radio transmitters over unlicensed spectrum. The company will pull in about £30 million from the IPO.

For more on xG's IPO goal:
- see this article from The Guardian

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