Kada seeks AIM listing in London
Source: Agencies |
July 3, 2012, Tuesday
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Print Edition
Print Edition
CHINA-BASED Kada Technology Holdings Ltd, which applied yesterday to trade on London's junior market, said it hoped an overseas listing will bring it prestige and more profitable ties with lenders and suppliers.
The tech component distributor expects to be valued at about 100 million pounds (US$156.85 million) once it starts trading.
It chose London's AIM market as it was faster than trying to go public in China or in the US, where volatility and slower listings are major concerns, the company said.
"When we speak to our bank about funding, more financing, they do recognise that a Chinese company listed overseas is not an easy task," Kada Chief Financial Officer Lee Kheng Yam said.
"It brings with it a certain prestige and corporate brand recognition that would open doors for us in order to get better terms with the banks in China, as well as our suppliers and business associates."
The firm would likely start trading on AIM later this month under the ticker symbol "KADA."
There has been a drought in Chinese companies applying for US listings in recent years as accounting scandals and slow growth have shaken investor confidence.
The firm, which was founded in 2004, distributes and sells electronic components such as chips for netbooks, tablets and other handheld devices.
The tech component distributor expects to be valued at about 100 million pounds (US$156.85 million) once it starts trading.
It chose London's AIM market as it was faster than trying to go public in China or in the US, where volatility and slower listings are major concerns, the company said.
"When we speak to our bank about funding, more financing, they do recognise that a Chinese company listed overseas is not an easy task," Kada Chief Financial Officer Lee Kheng Yam said.
"It brings with it a certain prestige and corporate brand recognition that would open doors for us in order to get better terms with the banks in China, as well as our suppliers and business associates."
The firm would likely start trading on AIM later this month under the ticker symbol "KADA."
There has been a drought in Chinese companies applying for US listings in recent years as accounting scandals and slow growth have shaken investor confidence.
The firm, which was founded in 2004, distributes and sells electronic components such as chips for netbooks, tablets and other handheld devices.
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