PIC Pacrim International has become the first private Hong Kong company to be granted a direct listing on the Vancouver Stock Exchange (VSE).
PIC Pacrim will issue 1.2 million common shares, or two per cent of total equity, at 50 cents each to raise C$600,000 (about HK$3.5 million), with the stock expected to be listed early next month.
The company expects there will be significant interest in its shares and other VSE offerings from Hong Kong and Southeast Asian investors while North American investors will be attracted by the exposure to China.
PIC Pacrim offers its clients a complete range of immigration and investment advisory services and has operations in Hong Kong, China and Canada.
Its immigration services, which began in June 1989 after the crackdown on pro-democracy protesters in China, helps clients from Hong Kong and China invest in and emigrate to Canada by preparing the necessary documents, counselling applicants through the interview process and participating in immigration appeals.
With more than one million people in China having a net worth of more than $1 million, PIC Pacrim plans to focus on China by opening offices in Shenzhen and Shanghai to complement an existing office in Guangzhou as the interest in immigration to Canada increases.
The company will also use the proceeds of the offering to open an office in Vancouver and Toronto, expand its tax consulting business and raise working capital.
