24 May 2006
The London Stock Exchange is delighted to welcome IGM Limited to AIM.
IGM is a provider of first and second generation mobile value-added services (“VAS”) to users in China, Hong Kong, Macau, Malaysia and Taiwan, and is the first Chinese mobile technology company to float in London.
The company was established in 2002 to capitalise on the anticipated growth in the Asian market for premium mobile content and services. Over the last 3 years it has experienced phenomenal growth within a sector that has shown high growth rates in Asia generally. Furthermore, IGM has acquired a nation-wide licence to operate and launch services in the whole of China, its main focus market in Asia.
Proceeds from IGM’s listing on AIM will be used to fund the company’s expansion in existing and new markets, with particular focus on China and India in the second half of 2006. The Group is also looking at expansion opportunities in India, Philippines, Indonesia and Thailand and will look to identify market opportunities in Europe, Latin America and North America. The funds will also be used to develop robust technology in the form of community-based services and value-added content and applications, including the launch of new 3G-based products and to fund the general capital requirements of the Group.
Commenting on the flotation of IGM Limited, Philip C.L. Wong, Chief Executive Officer, said:
“We are delighted that we have reached this stage and would like to thank all our employees, partners and customers who have helped us to this stage. We believe the opportunity which listing on AIM creates for IGM will help further the growth, profitability and success of the company and we look forward to this new period as a quoted company.”
