Bird & Bird today announces that its Corporate teams in London and Singapore have advised UK headquartered company, SyQic, on its AIM IPO.
Founded in 2004, SyQic is a fast growing OTT provider of live TV and on-demand paid video content for mobile phones and tablets, and will have a market capitalisation of £15 million on admission.
Since 2010, the Group has pursued a paid mobile delivery model and, as such, it does not rely on advertising revenue, instead generating its revenues through access fees charged to its end-users. As at 31 July 2013 SyQic had, in aggregate, served over 1 million end-users across its core markets in Malaysia, Philippines and Indonesia. The Group now plans to expand into the UK, Continental European and US markets.
Bird & Bird has been acting for SyQic in Singapore for a number of years and was appointed by the Directors to take the company through the fund raising and AIM admission process. The admission of SyQic follows a number of other public company transactions the Corporate team has advised on over the last quarter including the AIM IPO of Frontier Developments Plc and Earthport Plc's recommended takeover of Baydonhill Plc.
Simon Fielder, partner, Bird & Bird said: "This IPO from SyQic is further demonstration of the pick-up in activity for IPOs and funds raised on AIM, particularly for companies in the TMT space."
"We were thrilled to be appointed by SyQic to take them through this admission process, having worked with them for a number of years from our Singapore office."
Jamal Hassim, CEO, SyQic said: "Bird & Bird were a natural fit for us given that we already had an existing relationship with them, paired with their expertise in working with media and technology companies and the AIM market. We have been exceptionally pleased by the advice and support that we have received from the team at Bird & Bird.
“SyQic's listing will support the company in the next phase of its growth."
The Bird & Bird team was comprised of Simon Fielder, Colin Kendon, Marc Glucksman and William Dellar in the UK and Joanna Teng and Myra Tan from the Singapore office.