Abchurch has secured the IPO remit for JQW plc “JQW”, a domestic Chinese B2B e-commerce operator. Abchurch has been appointed to provide financial PR and investor relations advice as the Company announces its intention to list on the AIM market of the London Stock Exchange. JQW seeks to raise between £10 – 15 million, giving it an estimated market capitalisation of £140 million. Dealings are expected to commence on AIM on 9 December 2013. Argento Capital Markets Limited is leading the fund raising as Placing Agent, Cairn Financial Advisers LLP is acting as Nominated Advisor and Broker to the Group.
JQW specifically targets China's small and medium-sized domestic businesses, of which there are 49 million. The company provides these SMEs with a range of services and an ability to connect and advertise their products to potential buyers through the internet. It is now one of the leading Chinese B2B e-commerce platforms. As at 30 June 2013, the Group's domain www.jqw.com was ranked second behind Alibaba in the top 10 Chinese B2B e-commerce websites, in terms of web traffic.
Julian Bosdet, Senior Partner at Abchurch commented: “We are delighted to be advising JQW on its proposed AIM listing. The B2B e-commerce sector in China is experiencing rapid growth. The recent oversubscribed IPO of 58.com in New York and the anticipated listing of Alibaba in Hong Kong highlights investor appetite for JQW’s peer group. With internet penetration in China currently at only 49%, there remains a lot of upside. JQW’s decision to list in London offers UK investors the opportunity to participate in this high growth market.”
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