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• Ashfords advises on AIM Flotation

Introduction

Ashfords advised GMO Limited on its placing and admission to the Alternative Investment Market (AIM) of the London Stock Exchange last week.

The placing raised £5 million with GMO Limited's market capitalisation on admission valued at £20m.

The GMO Group was established by three Malaysian companies listed on MESDAQ to take advantage of the business opportunities afforded by the wireless value added services ("WVAS") sector in China.

MESDAQ is a securities market operated by Bursa Malaysia.

The GMO Group owns the SONTouche Platform, a proprietary technology which facilitates the delivery of cross network WVAS.

The platform has been developed for use in the Chinese WVAS market.

Use of the platform is licensed to a WVAS provider based in Beijing, through which the GMO Group derives its revenues.

Corporate Synergy Plc is the nominated advisor and broker to GMO Limited. Osborne Clarke advised Corporate Synergy Plc on the placing and admission to AIM.

The Ashfords' team was led by along with senior associates, Simon Staples and Annelie Joyce.

From left: Puan Chan Cheong, Eugene Goh and Eddie Yap    

Ashfords is regulated by the Solicitors Regulation Authority. The information in this article is intended to be general information about English law only and not comprehensive. It is not to be relied on as legal advice nor as an alternative to taking professional advice relating to specific circumstances.