Abchurch has been appointed by SyQic plc “SyQic”, a fast growing OTT provider of live TV and on-demand paid video content across mobile and internet enabled consumer devices, to provide financial PR and investor relations advice for its intention to seek admission of its shares to trading on the AIM Market of the London Stock Exchange. Following a highly successful roadshow, the Group achieved an oversubscribed fundraise and secured £3.2 million, of which £2.45 million is for the Company. Dealings are expected to commence on AIM on 4 December 2013. Allenby Capital Limited is acting as Nominated Adviser and sole Broker to SyQic.
SyQic is a fast growing OTT (Over The Top) provider of live TV and on-demand paid video content across mobile internet-enabled consumer electronics devices such as mobile phones and tablets through its “Yoonic” platform. Yoonic has efficient mobile video streaming as its core offering and allows for close to high definition streaming, utilising adaptive bit-rate streaming technology that matches the available bandwidth through the Group’s proprietary encoding methodology, and can stream as low as 80kbps. SyQic targets the Asian market together with the global migrant and expatriate communities. The Group already has a significant service footprint in the Philippines, Indonesia and Malaysia and near term launches are planned for the UK mainland Europe, Indochina, Myanmar, Singapore, Pakistan and Bangladesh.
Julian Bosdet, Senior Partner of Abchurch, commented: “The Abchurch team is delighted to be working on the IPO of SyQic. The Group is operating in an exciting, rapidly growing market and we look forward to supporting SyQic through this successful transaction and in the aftermarket.”
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