|
|
|
|
|
|
Closes at HK$0.465 per Share
3% Higher than Placing Price
|
HONG KONG, July 3, 2013 - (ACN Newswire) - KVB Kunlun Financial Group Limited ("KVB Kunlun" or the "Company" ; stock code: 8077), a financial investment services enterprise which specialises in serving the overseas Chinese and Japanese communities, has commenced dealing on the Growth Enterprise Market ("GEM") of The Stock Exchange of Hong Kong Limited ("HKSE") today.
 | | KVB Kunlun Financial Group Limited Commences Trading on the GEM of HKSE |
The shares of KVB Kunlun were actively traded today and recorded a satisfactory price performance. The intra-day high was HK$0.87 per share. The closing price was HK$0.465 per share, approximately 3% higher than the placing price of HK$0.452 per share.
Mr Stefan Liu, Executive Director and Chief Executive Officer of KVB Kunlun, said, "The listing in Hong Kong marks a milestone for our business development. It not only strengthens the capital base of the Company, but will also further enhance the brand awareness of KVB Kunlun in the industry. With the rapid expansion of global forex demand, we plan to increase the range of our services and products, and proactively explore the opportunities to develop in other major global cities to further expand our business and to create promising returns for shareholders."
A total of 343,345,000 placing shares are to be issued under the Share Offer, representing 17.17% of the Company's enlarged issued share capital. Based on the placing price of HK$0.452 per share, after deducting related expenses, the net proceeds of the placing are estimated to be approximately HK$125,300,000. Shares are to be traded in board lots of 5,000 shares. Quam Capital Limited is the Sponsor of the listing project, Cinda International Securities Limited is the Bookrunner and Joint Lead Manager, and Quam Securities Company Limited is the Joint Lead Manager of the Share Offer.
Specialised and experienced in serving the overseas Chinese and Japanese communities
Since 2003, the Company has been dedicated to serving the overseas Chinese and Japanese communities through its offices in New Zealand, Australia, Hong Kong and Beijing. Experienced in leveraged forex trading, the Company has become one of the active industry participants with established reputation. The profitability of the Company lies in the trading volumes of clients. Based on this strong track record, KVB Kunlun was honoured as the winner of Import of Services by the The Hong Kong Australia Business Association Limited in 2009 and garnered the "Best Chinese Services Award 2011" at the award ceremony of the Forex Market Conference and Forex Industry Chart 2011.
Diversified product portfolio, advanced forex trading platform and well-established risk management procedures
KVB Kunlun offers a diversified product portfolio to cope with a range of demands from clients, with the core leveraged forex and other trading products accounting for 70% of the total revenue, and the rest includes cash dealing and securities trading referral businesses. Leveraged forex and other trading products include 32 currency pairs, four indices and five commodities and the Company offers leverage ratio to its clients. The leveraged forex service aims to maximise profit through expanding trading volume and is one of the fastest-growing areas of retail trading in the financial services industry.
The Company pioneered the launch of a reliable, multilingual (Including Chinese, both traditional and simplified, English and Japanese) online trading platform ForexStar in Australia and New Zealand. ForexStar enables users to operate multi-currency pairs charts and to realise integrated multiple trading with strong risk management capabilities. With the use of ForexStar, clients save considerable manpower as they are able to perform forex trading functions via the internet or a traditional telephone system around the clock.
As good risk management is critical to any financial service provider, KVB Kunlun has adopted a set of risk management procedures to identify, evaluate, analyze, and control risk incidents and secure the stable growth of the Company.
High entry barrier and professional and disciplined practice delivers sector-leading position
The leveraged forex trading practice is highly regulated. Newcomers who wish to enter the industry require authorisations or licences issued by authorities, considerable capital, experienced and licensed personnel, as well as other internal control and compliance procedures and staff to implement them. The Company is professional and disciplined in its practice with operating licences in major financial markets in Australia, New Zealand and Hong Kong and has developed stable and long term collaborative relationships with a number of major international banks..
Seasoned management team enhancing stable business development
KVB Kunlun is bolstered by a comprehensive corporate structure with a management team led by senior management personnel with extensive industry expertise and strong execution capability. Mr Stefan Liu, the Chief Executive Officer has more than 10 years of experience in the forex market which is instrumental to the management, operation and development of the Company. Executive Director Mr Frederick Ng Chee Hung has more than 25 years of experience in the financial services industry. The Company's senior management team with a majority of ethnic Chinese with overseas nationality has better insight into the consumption pattern and needs of overseas Chinese clients.
Total revenue for the first four months in 2013 surges 100.5% year-on-year
The lower market volatility in 2012 has led to a stagnant forex market and trading within a narrow range. The Company's revenue in the first four months of 2013 has surged 100.5% on the strength of its core businesses compared with the same period in 2012.
Clear roadmap to achieve strategic growth
Looking ahead, the Company will continue to expand customer bases in the worldwide overseas Chinese and Japanese communities, increase the range of financial services and products, upgrade the online trading platform and achieve strategic growth through mergers and acquisitions. KVB Kunlun will conduct further due diligence on the market potential of other major cities with sizeable overseas Chinese and Japanese communities including Tokyo and Vancouver to seize expansion opportunities. Meanwhile, the Company will allocate more resources aimed at boosting interest in investment opportunities among prospective and new clients through organising seminars and presentations as well as launching more new leveraged forex trading products and other offerings. Subject to the possible liberalisation of rules and regulations in relation to offshore RMB products, the Company may allow its clients to open and settle accounts in RMB in the near future. Moreover, the Company plans to improve the response time and capacity in handling orders through continuing to develop the required hardware and software to support the latest mobile devices.
Use of Net Proceeds
Based on the placing price of HK$0.452 per share, after deducting related expenses, the net proceeds of the placing are estimated to be approximately HK$125,300,000, which will be applied for the following purposes:
-- Expansion of operations within global overseas Chinese and Japanese communities - 28.7%
-- Increase in the range of financial services and products - 27.9%
-- Upgrade of online trading platform - 22.4%
-- Strategic growth through mergers and acquisitions - 16.8%
-- Working capital - 4.2%
Contact:
Strategic Financial Relations Limited
Joanne Lam
+852 2864 4816 / +852 9839 6552
joanne.lam@sprg.com.hk
Cornia Chui
+852 2864 4853 / +852 9855 8871
cornia.chui@sprg.com.hk
Vanessa Zhang
+852 2114 4981 / +852 6208 1156
vanessa.zhang@sprg.com.hk
Fax:+852 2527 1196
Website: http://www.sprg.com.hk
Topic: Press release summary
Source: KVB Kunlun Financial Group Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
