Malaysian firm Fusionex opts for London in £80m Aim listing

MALAYSIAN software company Fusionex will announce plans today to float on London’s Alternative Investment Market in an initial public offering (IPO) valuing the company at as much as £80m.

The enterprise IT firm will look to raise between £10m and £15m when it goes public over the next one to three months. Fusionex said it was choosing London for its listing in order to advertise itself to the world as it looks to expand beyond its core Asian markets.

Panmure Gordon is advising the company on the IPO.

Fusionex, which counts RBS, Citigroup, Intel and Jaguar among its clients, said it was looking to expand in the fast-growing cloud computing and Big Data sectors.

The firm’s managing director Ivan Teh said listing on Aim would “provide an ideal platform to accelerate the group’s research and development initiatives whilst providing investments and working capital to fund geographical expansion”.

He added that Fusionex chose the capital to list “due to London’s appeal as an international platform of high repute”.