Mobicon sets sights on HK$50m

Mobicon Group is aiming to raise up to HK$50 million via a main-board listing early next month to fund business expansion, according to market sources.

The 18-year-old locally based electronic component-trader distributes about 85,000 components and parts, mainly to Hong Kong's electronic consumer product and toy-makers.

The company sources products from 800 suppliers - mostly in the United States, Japan, China and Germany - and sells to 3,000 customers in 73 countries.

Asian customers account for about 80 per cent of sales, according to chairman Measure Hung.

He declined to disclose details of the company's listing plan and other financial details, but said its gross profit margin exceeded 10 per cent.

Key competitors include two British global traders whose annual turnover exceeded HK$8 billion - 'several times' higher than Mobicon's.