Corporate Profile
Board of Directors
Senior Management
Milestones
Our Subsidiaries
Our Community Exchange
CSF in the Media
Press Releases
Happenings
Career Opportunities
Home > About Us > CSF in the Media > Press Releases
Press Releases

CSF float sees Asia returning to AIM


22nd March 2010, Harry Wilson, The Daily Telegraph (Business)


A MALAYSIAN data centre company has completed the largest new listing by an Asian company on London’s junior market in more than 12 months.
CSF Group shares began trading this morning on London Stock Exchange’s Aim after being priced last week at 55p, giving the company a market capitalisation of £88m and making it the biggest new listing on the junior exchange by an Asian company in more than a year.
The placing is also the largest new issue on Aim in more than a year by a technology company, and raised £28m through sale of new shares. Adrian Young, chief executive of CSF Group, said the IPO was a “milestone event” for the company.
“For the directors and employees of CSF the listing on Aim brings new opportunities as we look to deliver even greater technological solutions to our customers,” he said.
Mr Young is CSF Group’s largest individual shareholder with a 25pc holding. In total, the company’s managers and directors own 55pc of the shares.
Money raised from the listing, which increases CSF Group’s share capital by nearly a third, will be used by the company to build a new data centre facility and expand the business throughout South-east Asia, which Mr Young said offered a “unique situation”.
“The data-centre market in South-east Asia is going through a phase of growth due to the increase of data-intensive businesses,” said Mr Young.
After a couple of poor years for Aim, which has marketed itself extensively to companies from developing markets as well as to growth business such as those in the technology sector, the flotation of CSF Group will be a welcome event.
The past two years have seen a flood of listings slow to a trickle.