London Stock Exchange welcomes JQW plc to AIM
Monday 9th December 2013
London Stock Exchange today welcomed JQW plc (“JQW” or the “Group”) to open its UK Markets, celebrating the admission of its shares for trading on AIM which commenced on Monday 9th December 2013. The Group has successfully raised £6.7 million and, upon admission, will have a market capitalisation of £135 million.
JQW is a domestic Chinese B2B e-commerce operator, specifically targeting China’s 49 million small and medium-sized domestic businesses. Through its established central platform, www.jqw.com, the website offers its clients a range of services through which to connect with, and advertise, their products to potential buyers. JQW is an established, cash generative business and has grown to be one of the leading Chinese B2B e-commerce platforms. In terms of web traffic, the Group’s domain ranks second, behind Alibaba.
Commenting on the successful admission to AIM, Yongde Cai, Chairman of JQW plc, said: “JQW is delighted to be officially welcomed by the London Stock Exchange, as our listing represents a major milestone for the Group. The Board believes it will provide JQW with the profile and the resources to capitalise on the growing B2B e-commerce sector and drive our future growth. With our plans to upgrade our hardware and servers, develop a mobile platform as well as a trading and financial platform, the funds raised at the IPO will be hugely beneficial in strengthening the brand, our product offering and our presence both domestically and internationally.”
Argento Capital Markets Limited led the fundraise as Placing Agent with Cairn Financial Advisers LLP acting as Nominated Advisor and Broker to the Group.