KADA Technology is this morning due to announce its intention to float on London’s Alternative Investment Market (Aim), making it the second Chinese company in a week to unveil a UK listing.
The eight-year-old business, which provides components and devices for consumer electronics and the IT industry, is heading for a market capitalisation of £100m.
The Shenzhen-based firm’s float comes just days after Fairy Fox, the Chinese clothing retailer, unveiled its intention to join Aim.
Shares in Kada, which generated revenues of ($82m) £52.2m last year, could list as soon as this week.
Kada chief financial officer Lee Kheng Yam told City A.M.: “We want to raise sufficient funds to focus on new projects in wireless media.
“Despite all the Eurozone problems London is facing at the moment, I still think it’s one of the highest exchanges in the world.”
The string of Chinese listings in London comes in the wake of Geeya Technology’s £23m acquisition of Aim-listed Harvard International, which marks the first time a non-state owned Chinese business has bought a UK-listed company.
Richard Abrahams, co-chief executive of London and Beijing-based broker NSBO, said: “Hong Kong is a very crowded market, there is a queue for companies to get listed and Aim has done a good job of promoting itself in China.
“The Chinese like the UK more than the US – they feel more politically accepted here. Keep an eye on the acquisition trail, there will be more of these in the near future.”