Growth Enterprise Market (GEM) candidate International Capital Network hopes next month's listing will raise about HK$30 million to fund expansion of its corporate finance business, according to market sources. The company was set up in April last year by Dan Hui Chuen-kan and Michael Lui Bing-kin - two former corporate finance managers of South China Capital. Executive director Mr Hui said the company recorded 'seven-digit' (more than HK$1 million) turnover and net profit in the year to July 31. It advises both small- and medium-size companies on fund-raising, corporate restructuring and mergers and acquisitions. It was financial adviser and co-lead manager for the GEM listings of Rainbow International Holdings and Riverhill Holdings, and is advising two companies planning to list before the end of the year. Rainbow paid in stock for the HK$500,000 advisory service it received from International Capital Network. Mr Hui said it had formed non-exclusive alliances with a mainland business consulting company and two medium-size Hong Kong accountancy firms. It hopes to boost its market recognition and fund business expansion through the listing. The proceeds would be used to set up a representative office on the mainland and add employees. Together, the founders own more than half the firm, which has an undisclosed listed company as a passive investor.