Business
Admission to AIM
Admission to AIM.
About this update from Mobilityone Limited
[{"type":"text","content":"\n MobilityOne Limited\n05 July 2007\n\n MobilityOne\n\n Admission to AIM\n\nMobilityOne (the 'Company'), a Malaysian e-payment solutions provider, announces\nthe commencement today of trading in its ordinary shares on AIM.\n\nAs part of the flotation, HB Corporate placed 12,300,000 ordinary shares at\n12.5p per share raising a total of £1,537,500 for the Company. At admission,\nthere are 93,937,204 ordinary shares in issue giving a market capitalisation of\n£11.7m at the placing price.\n\nMobilityOne has developed an advanced e-commerce system that connects service\nproviders to consumers across a range of industries, taking in banking,\ntelecommunications and transportation. Using the software consumers can access\ncertain products via full-service terminals, self-service terminals, SMS, ATMs\nand the internet. Through these multiple distribution channels MobilityOne sells\nproducts including:\n\n • prepaid mobile phone reloads\n • prepaid international and local call card reloads\n • prepaid internet usage reloads\n • electronic ticketing for buses and events\n • prepaid online gaming reloads.\n\nAt present approximately 90 per cent of its revenue is generated through prepaid\nmobile phone reloads. In contrast to the UK market, prepaid is by far the\npreferred method for phone usage in Malaysia and becoming increasingly more so.\nIn 2006, 82.7% of the 19.5 million Malaysian mobile phone subscribers used\nprepaid, compared to 67.3% in 2002.\n\nHussian A. Rahman, MobilityOne CEO, commented: 'We are delighted with the\nsupport that we have received from investors and to list our shares on AIM. The\nmoney raised by the float will be used to develop and increase the number of\ndistribution points from our existing 3,000 terminals; increase the range of\nproducts available for purchase through the platform technology; maintain R&D;\nand target organisations with large customer bases to provide the Company's\nTechnology Managed Services.\n\n'In addition the funds will assist our planned expansion into neighbouring areas\nsuch as Brunei, Cambodia, China, Indonesia, Bangladesh and Thailand - markets\nwhere prepaid phone penetration mirrors that of Malaysia.\n\nHB Corporate is Nominated Adviser and Broker for the flotation.\n\nMobilityOne 020 7936 9605\nHussian A. Rahman, CEO\nSeah Boon Chin\n\nHB Corporate 020 7510 860...