Monday, July 12, 2010

CSF Group float sees Asia returning to AIM

By Harry Wilson 606PM GMT twenty-one March 2010

CSF Group shares began trade this sunrise on the London Stock Exchange"s AIM after being labelled last week at 55p, giving the association a marketplace capitalisation of �88m and creation it the greatest new inventory on the youth sell by an Asian association in some-more than a year.

The fixation is additionally the largest new issue on AIM in some-more than a year by a record company, and lifted �28m by the sale of new shares. Adrian Young, arch senior manager of CSF Group, pronounced the IPO was a "milestone event" for the company.

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"For the directors and employees of CSF the inventory on AIM brings new opportunities as we see to broach even larger technological solutions to the customers," he said.

Mr Young is CSF Group"s largest particular shareholder with a 25pc holding. In total, the company"s managers and directors own 55pc of the shares.

Money lifted from the listing, that increases CSF Group"s share collateral by scarcely a third, will be used by the association to set up a new interpretation centre trickery and enhance the commercial operation via South-east Asia, that Mr Young pronounced offering a "unique situation".

"The data-centre marketplace in South-east Middle East is going by a proviso of expansion due to the enlarge of data-intensive businesses," pronounced Mr Young.

After a integrate of bad years for AIM, that has marketed itself at length to companies from building markets as well as to expansion businesses such as those in the record sector, the levity of CSF Group will be a acquire event.

The past dual years have seen a inundate of listings delayed to a trickle.


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