Further Details at www.kcicplc.com
SEOUL, South Korea, Nov. 26 /Xinhua-PRNewswire/ -- KCIC plc ("KCIC" or "the Company"), which will be the first investment company focused on Korean SMEs to float on the London Stock Exchange's AIM market, is pleased to announce that it has secured a cornerstone investment of British pounds Sterling 2.5 million from Woori Investment & Securities Co. Ltd. ("Woori"), the leading Korean securities business.
KCIC begins marketing this week and intends to raise a total of approximately pounds 50 million across key territories, which include Korea, Hong Kong, Singapore, the United Arab Emirates and the UK.
Daniel Stewart & Company is acting as the Company's Nominated Adviser and Broker for the fund raising and admission to AIM in the UK.
Woori has also been appointed as co-manager to the marketing in Korea, leveraging off its in-depth investment experience and extensive network of 121 offices across Korea. In addition, Dao Heng Securities Ltd., an established broker based in Hong Kong, has been appointed co-manager in the territories of Hong Kong, Malaysia and Singapore. In the United Arab Emirates, Convergence Capital Ltd., the boutique investment bank operating in the Dubai International Financial Center, will be assisting with the fund raising.
KCIC was established by a senior management team with significant strategic investment expertise in Asia in order to invest in small to medium sized, profitable South Korean technology companies. KCIC will prepare each business for either a possible listing on an appropriate stock exchange or a trade sale.
The Company will generate revenues from the provision of strategic management consulting to select invested SMEs in order to move investee companies towards their targeted exit. Unlike an investment fund, KCIC will not take any management or performance fees.
KCIC's management team, led by Thomas Yi CEO, has exceptionally strong contacts and support within the South Korean business and investment community and has identified a broad spectrum of profitable companies for potential investment. This strategy is reinforced by the South Korean government which has placed a strong emphasis on the development of new and emerging technologies by the nation's SMEs.
Thomas Yi, CEO of KCIC, said, "We are delighted to announce Woori as our cornerstone investor. It is testament to the strength of our proposition that we will be working with Woori not only during our fundraising in Korea but also subsequently as we intend to appoint a Woori executive as a Non Executive Director. We have built an exceedingly strong network to support our marketing efforts and I look forward to reporting further progress in due course."
