25 February 2008
The London Stock Exchange is delighted to welcome PAQ International Holdings Ltd to AIM.
PAQ is a manufacturer and distributor of protective bags for mobile phones, laptops and other electrical devices, which are manufactured in the People’s Republic of China (“PRC”) and distributed in the PRC and in many other international locations.
Founded in 1996, PAQ began by establishing a low cost manufacturing platform for OEM products and has since developed higher-margin, branded lifestyle products with distribution in over 25 countries. In recent years the Group has put in place its own internal product development team and has created a European distribution network. Looking forward, the Group’s key objectives are to focus on building its brand in China and to establishing a presence in the US in cooperation with a local partner and developing its distribution network in China.
Following the successful placing of 16,666,667 new ordinary shares priced at £0.06 per share, raising capital of £1million, PAQ International Holdings Limited will have a market capitalisation on admission of £7.2million.
Commenting on the Admission, Kelvin Yau, Chief Executive of PAQ, said:
“I am delighted by the response from investors in London to our fundraising. Our admission to AIM will provide funds to accelerate our international expansion, including the purchase of other manufacturing and distribution businesses in China and the development of our retail business in many territories, including China and the UK.”