18/03/2008 Exchange is delighted to welcome China
18 March 2008
The London Stock Exchange is delighted to welcome China Eastsea Business Software Ltd to open the London markets.
China Eastsea Business Software Ltd (AIM: CESG) is a provider of information technology and business process outsourcing services. The company provides IT consulting and a broad range of project work to clients in the petrochemical, petroleum, power and telecommunications industries, as well as to ministries, state authorities, municipalities, agencies and other organisations throughout the government sector in China.
The company announced the successful admission to trading on AIM on 24 January 2008. Previously the company was admitted to PLUS Markets. The company joined AIM at a mid price of 26.5p, valuing the company at £18.4m and no funds were raised on admission to AIM.
Eric Zhu, Chairman and CEO of China Eastsea, said:
“We are very pleased with our successful admission to AIM. This will increase the public profile of the company and should lead to increased recognition and confidence from potential customers towards our IT outsourcing services. We hope moving to AIM will broaden the current shareholder base and enable investors to share in any future success of the Group through increased liquidity. It will also give China Eastsea access to funds to aid our future development and assist possible acquisitions.”
Evolution Securities Ltd is acting as China Eastsea’s Nominated Advisor and Evolution Securities China Ltd as Broker. Baker Tilly Corporate Finance LLP is acting as its reporting accountants and Parkgreen Communications Ltd as Financial PR advisers.