Chorus Ltd

XMUN:7CH

Business Description

Sector

Communication Services

Industry

Telecommunication

Headquarters

New Zealand NZ

Employees

755

IPO date

Nov 23, 2011

Chorus Ltd builds and runs the fixed-line broadband network that carries internet traffic across New Zealand. It owns much of the country’s underground fiber and copper infrastructure, then connects homes and businesses to that network through local service providers rather than selling internet plans directly to end users.

Its customers are mainly retail internet companies, mobile and communications providers, and other wholesale network users that need access to Chorus’ lines, exchanges, and fiber connections. Chorus makes money by charging access fees and connection fees for use of its network, so its earnings depend on how many customers and households are connected and how much traffic the network carries.

What makes Chorus different is that it sits in the middle of the broadband value chain as a wholesale utility, not a consumer brand. That gives it a regulated, infrastructure-heavy business model with long-lived assets, steady demand tied to internet use, and a role that is essential to how New Zealand’s broadband market works.