Chinese Players Join Local Game

Chinese Players Join Local Game - Michael Bebly, BRW (August 29, 2013, page 12, section: BRW-News)


Chinese companies are being encouraged by their own authorities to go out into the world and learn how to do business globally, leading to a clutch of players trying their hand on the ASX.

Company names like 99 Wuxian and Sunbridge will not be familiar to most Australian investors. They're new and they're small. But the mobile commerce marketplace operator and men's clothing retailer are the latest in a line of companies based in and focused on China, but seeking to list on the ASX. It's a group that started with TTG Mobile Coupon Services, which listed here in November last year - and looks certain to grow.

They're starting with baby steps. 99 Wuxian is seeking to raise up to $20 million in a "compliance" listing in late September - essentially, one to get its financial structure and governance processes in a state that is compatible with Western businesses. Sunbridge is seeking to raise $3-10 million in the October listing to help it expand its network of China-only retail outlets...

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