Jump nearly 34% soon after admission
Shares in video to mobile specialist SyQic closed more than a third higher last night [4th December 2013] after floating on London’s junior Aim market.
The firm, which delivers live TV and on-demand video to internet connected devices to consumers in the Philippines, Indonesia and Malaysia, watched its share price soar on the first day of trading, raising some £3.2 million.
Last year SyQic, based in Gerrards Cross, Buckinghamshire, achieved user revenues of £3.9 million – an increase of 38 per cent compared to the previous year. Profits grew 71 per cent from £366,000 in 2011 to £626,000 last year.
With yesterday’s rally it now boasts a market cap of £19.2 million.