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China-based anti-counterfeit App maker YPB Group set for ASX-listing
- Published July 14, 2014 3:26PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Source: The Australian Financial Review; Published: Monday, 14th July 2014
YPB Group, a company that is making a smartphone App to help Chinese consumers spot fakes by authenticating branded products as genuine, has managed to get its plans for a backdoor listing on the Australian Securities Exchange over the line.
The company, which had been seeking to raise up to $6 million by June 30 needed an extension of time but closed the offer on Friday July 11 having secured $3.7 million, pipping the minimum $3 million needed for the float to proceed. A final listing date is yet to be set but it is expected to be before the end of the month.
According to a statement from the company the greater-Asian anti-counterfeit authentication market is currently valued at $US14 billion ($14.91 billion) per annum and growing at a rate of 20 per cent each year.
At listing, the company will have an indicative market capitalisation of just over $20 million.
To view to full article please click here.
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