26th Aug 2016 07:59
LONDON (Alliance News) - Shares in emerging markets investment fund APQ Global Ltd were trading higher on Friday as it floated on London's AIM market.
APQ raised GBP78.1 million by issuing 78.1 million shares at 100.00 pence per share. The funds were raised via a placing on the Channel Islands Securities Exchange, with an additional listing on AIM. The company's market capitalisation upon admission was also GBP78.1 million.
Shares in the firm were trading higher on Friday, up to 107.23p.
It said it will use the funds to develop lending activities to sovereign, corporate, and banking entities in emerging markets.
"The listing of APQ Global on the Channel Islands Securities Exchange and the admission to AIM is a key milestone in the development of our company. APQ Global's management team is of the view that emerging markets will offer tremendous opportunities in the years ahead. We believe that our business strategy is well-placed to pay a six per cent. dividend and deliver substantial growth in the book value of the company to our shareholders," said Chairman Bart Turtelboom.
By Sam Unsted; [email protected]; @SamUAtAlliance
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