The first quarter of the year saw Colombian Mineral Resources and HubCo Investments also join the exchange.
Adviser Beaumont Cornish helped the business raise £395,900 at 10p a share, which will provide capital to fund the review and due diligence of potential acquisitions or investments. According to a statement from the company, with 1.3 billion people living in China, even if it secures a tiny market share there should be a significant opportunity.
The board includes Gary Ching, Baldwin Hui and songwriter Geoff Morrow. Set up as a limited liability company in the British Virgin Islands last year, shares in China Sports Development are currently trading on PLUS at 11p.
On 3 February 2012 Plus Markets Group announced a formal sale process to identify ‘appropriate partners for the company or major strategic investors’ and gave a deadline of 30 March for interested parties.
In an update issued on 17 April PLUS revealed that it had received a number of ‘indicative proposals’.
On the back of its sale process rival trading platform Sharemark began offering free admission to PLUS-quoted companies, bypassing an initial £1,950 fee.