Take a look at these... issued at 50p already up 80%... I am stilll shaking, bought at 62.5p now 96p... stick these on your watch list

KUALA LUMPUR: GMO Ltd, a joint venture between Green Packet Bhd, mTouche Technology Bhd, and OSK Venture International Bhd (OSKVI), will be listed on the Alternative Investment Market (AIM) of the London Stock Exchange in the first half of September.

GMO and mTouche chief executive officer Eugene Goh said the 5mil (RM35mil) gross proceeds from the listing would be used to finance the company's organic growth and future acquisition in China.

We opted for AIM because we want GMO to have bigger international visibility. We considered other markets but we think the Europeans better understand the potential of the messaging and content market.

We want to explore the demand from institutional investors because there is a lot of liquidity in Europe, he said in an interview yesterday.

Green Packet and mTouche have 40% stakes each in GMO while OSKVI holds the balance 20%. For the listing, 10 million new shares will be issued at 50p each. Green Packet, mTouche and OSKVI's stakes will be diluted to 30%, 30% and 15% respectively after the listing.

GMO was set up to take advantage of the vast opportunities in the cellular and wireless value-added service (WVAS) sectors in China.

The company has a joint-venture arrangement with Beijing Hongxun Communication Technology Co Ltd, one of five out of 2,800 services providers in China to have been granted a common nationwide access shortcode that can be accessed throughout the country via four mobile network operators there.

GMO director and Green Packet chief executive officer Puan Chan Cheong said GMO investors could expect to enjoy the same triple-digit growth rate of the parent companies.

From left: Puan Chan Cheong, Eugene Goh and Eddie Yap
GMO is already a profitable company although it was only formed about a year ago. Another objective of the listing is that we want to send a clear message to investors on the combined strength of the three (founding) companies and the synergies derived from working together, he said.

He said Green Packet was well established in China as a network technology provider; mTouche was an expert in content and messaging; and OSKVI was renowned for structuring, corporate financing and completing the due diligence for GMO's listing.

Together, our market capitalisation is about RM2.3bil or about 25% of Mesdaq but when we go out to compete in the global market, it is very small, he said.

OSKVI chief executive officer Eddie Yap said GMO's listing on AIM vindicated the company's strategy of a business builder.

We play an active role in promoting, developing and imparting our investment expertise with our partners. We succeeded in listing GMO in less than a year, which is very rare for Malaysian companies, he said.

Not so many buys now... price is not falling

Not so many buys now... price is not falling

It will be interesting to see how these shares will fare tomorrow... can they hold this high price

More steady gains today, some late buys coming though I think, they are at 100p, wich was the price yesterday, but am not sure. Can anyone comment on this?

They could be sells but it's not affecting the sp its still on the up have you got a target.

Target at the mo is up in the air... average price I have paid for is 82.5p, looking to double, but will keep it running as long as it "feels" right

good day for GMO up 7.5%, some large buys also today

Looking forward to Monday, still thinking about buing more. Still kicking myself for not buying on the dot at 8am last Wednesday... When I spoke to my broker he said the price was 57p, told him to buy, and he called me back to say the price had moved up to 67p and he had not bought because the price had moved too quickerly. I was p****d off......

perhaps a silly Q but perhaps not ..... was there not another Chinese IT or telecom IPO (I think that is the correct acronym), perhaps in NY, that went totally through the roof, then collapsed and little has been heard of it since?

If that is so, then I can say watch out and bail out once you have reached your predetermined target .... and stay out!

How would one set a predetermined target? How would one make it realistic? Sorry for novice questions

By determining what you think is a fair profit ..... shares that rocket have a nasty habit of falling like sticks ..... been there, done that and got a drawerful of T-shirts

Well will be looking for double, got in at 82.5p Target is 165p

First 5 trades are all X trades.... can anyone explain what this means?

a small caveat .... unless i am much mistaken, the excitement and particular the volume in this share has completely died away .... imo, if you are a holder with a decent profit, then it would be no bad thing to take at least some money off the table .... if traders start getting bored, as they may well do, then the price could easily fall at more than the rate at which it rose

just to be dull, i repeat my earlier comment ...... call be cynical, but i may be detecting the faint aroma of at least smoke

Hey Cynic, can you explain why the price moves up on more sells, does not make sense? Still moving up, nice gain today

the Lord often moves in mysterious ways! ..... However, my advice remnains the same ....... Note how volume has dwindled to nothing

you may have a point, but i will hang tight for a bit... thanks for warnings

Another 2p rise, has risen every day since it floated.... still think there will be more to come