20 Aug 2012 | 03:03 pm | 1 min. read
Pinsent Masons has advised China Chaintek United Co., Ltd (China Chaintek) on its AIM IPO, with a market capitalisation of £87.5m and raising approximately £7.5m of new money to expand the company's logistics services business and its inventory storage and management business.
China Chaintek is one of the largest providers of logistics services to domestic sports shoe and apparel manufacturers in China. With a customer base of over 350 national manufacturers across China, the company's listing in the UK will be used to partly fund the development of a 200,000 sq m warehouse in Jinjiang City, which will centralise customer operations.
Derrick Wong at China Chaintek said: "Our successful IPO on AIM represents a strategic step for the business; promoting our brand across China and enabling us to invest in our warehousing capacity to service our growing national customer base. We are delighted to have worked with Pinsent Masons' international IPO team; this was a significant transaction for us in terms of time commitment and is critical for the development of our business. The Pinsent Masons' team was there to support us throughout."
The Pinsent Masons team advising China Chaintek was led by Corporate Finance Partner Sean Page, assisted by Corporate Associate Matthew Parker in London with Consultant Amanda Yao and Leo Wang in Shanghai.
Commenting on the float Sean said: "We are very pleased to have advised China Chaintek on its IPO in London. This continues our strong track record of advising Chinese companies to list on AIM, having recently also advised sportswear brand Naibu and Global Market Group Limited on their IPOs."
He added: "Logistics is a key part of growth in China's drive to boost domestic consumption. It is great to see a fast growing domestic business like Chaintek coming to AIM to raise new money, and exploiting the growing demand to provide advanced logistics services to China's manufacturers."
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