AIM’s drive to attract more international companies appears to be bearing fruit, with a first Singaporean company set to apply for a sole listing on the market.
AIM’s drive to attract more international companies appears to be bearing fruit, as educational course provider AEC Education has become the first Singaporean company to apply for a sole listing on the market.
After raising £750,000 for a market price tag of £6 million, AEC is looking to extend its geographical reach from Singapore and Malaysia to other south-east Asian countries as well as Hong Kong and China. The company also hopes to set up a base in the UK and is eyeing eastern Europe.
AEC has 16,000 students enrolled globally and offers courses ranging from ‘O’ to doctorate level from educational institutions such as the University of Birmingham and Australia’s Monash University. The company also recently acquired a 35 per cent stake in Educational Resources (ER), a subsidiary of AIM-listed Educational Development International.
ER administers over 100,000 qualifications each year through its association with the London Chamber of Commerce and Industry. Hichens Harrison is acting as broker to the float.