Software firm ABC Multiactive, the local subsidiary of Canada-based Multiactive Software, is aiming to raise HK$40 million to HK$56 million through a listing on the Growth Enterprise Market (GEM), according to market sources.
The sources said the listing was expected to be launched by the end of this month or early next month, with 40 million shares to be sold to investors by placement only at between HK$1 to HK1.40 each.
ABC Multiactive was formed in April last year after the merger of locally based brokerage software company ABC Data and Telecom, and the Hong Kong operation of Multiactive.
Multiactive, which focuses on customer relationships management (CRM) software in the banking, real estate and insurance sectors in Canada, holds about 60 per cent in ABC Multiactive.
ABC Data and Telecom, which provided trading and settlement software to brokerages, was headed by Anthony Au - president of the Hong Kong Information Technology Federation and now ABC Multiactive's group managing director.
ABC Multiactive president Alon Li would not comment on the listing.
