05/12/2007 Exchange is delighted to welcom FoaMasters to AIM
5 December 2007
The London Stock Exchange is delighted to welcome FoaMasters International Limited to AIM.
FoaMasters International Limited is a leading manufacturer and producer of polyurethane flexible foam and related finished products within the Asia Pacific region. FoaMasters produces a wide range of high quality flexible polyurethane foams for use in a variety of industries including bedding, footwear and furniture. Products are principally exported to branded retailers in the USA, Canada and Europe including Wal-Mart, Nike, Littlewoods and Toys R US, and are increasingly sold into the Chinese domestic market.
Established in 1964, FoaMasters currently operates six factories in China and a further two in Vietnam, employing over 1900 personnel, with two more new factories operational by year end.
The company will have a market capitalisation of approximately US$64 million on admission, with shares beginning trading at 37.5p.
Commenting on the admission to AIM, Jack Cheong, CEO said:
“We are delighted to be admitted to AIM and look forward to building our profile over the coming years. We have a robust, fast growing business, which is capitalising on the demand for specialist foam products and we anticipate significant growth in both revenues and profits of the company in the short to medium term.”
Broker and Nomad: Hanson Westhouse
Financial PR: Buchanan Communications
Legal advisors: Stephenson Harwood