IAsia Ltd. To Go For Gem Listing
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Financial trading company iAsia Ltd. has announced plans to tender and initial public offering (IPO) on Hong Kong's GEM early next month.
Offer price for the shares is set to be between HK$.64 and HK$.70. There are to be 90 million shares issued.
iAsia has granted an over-allotment option entitling the underwriters the right to require iAsia to issue up to 13.5 million shares.
Stanley Ho's New World Development is a major investor in the company. Mr. Ho also sits on iAsia Ltd.'s board.
The company, a fincial information and trading group, is a provider of real-time online trading services to financial institutions throughout Asia.
The sponsor for the listing is First Shanghai.