Specialist Mongolian developer Asia Pacific Investment Partners to launch December IPO in London
Hong-based real estate firm, APIP, plans full listing of its share capital on London’s alternative investment market
Asia Pacific Investment Partners (APIP), the Hong Kong-based real estate developer, is to launch a full initial public offering in London next month, on the SME-dominated alternative investment market (AIM).
The company, which invests and develops properties primarily in Mongolia, has applied to list its entire share capital to trade on AIM, which allows smaller firms more flexibility than London’s main stock market.
APIP plans to use the funds raised, on further expansion of its real estate portfolio, including Mongolia’s middle-income residential market and providing mortgage loans to individuals and businesses in Mongolia, according to Lee Cashell, its chief executive officer, for which it has a licence.
Further down the line there could also be expansion into Myanmar and other emerging markets.
“We have spent the last 15 years in the Mongolian market,” Cashell said. “We believe the group is now well positioned to capitalise on the strong growth opportunities in the Mongolian economy.”
APIP’s revenue rose in the first half of the year to US$1.36 million compared with US$1.02 million in the same period last year.
