Hong Kong forex broker KVB Kunlun completes IPO
Hong Kong forex broker KVB Kunlun completes IPO explained by professional Forex trading experts the “Hong Kong forex broker KVB Kunlun completes IPO” FX trading team.
Hong Kong forex broker KVB Kunlun completes IPO
LeapRate Exclusive… IPO fever seems to be gripping the forex industry. LeapRate exclusively broke the story of Plus500’s IPO filing in London just two days ago. Now comes word that Hong Kong based forex broker KVB Kunlun has actually just completed its IPO, going public on the the Growth Enterprise Market (“GEM”) of the Hong Kong Stock Exchange.
In its IPO, KVB raised HK$125 million (USD $16 million) at a company valuation of HK$904 million (USD $117 million).
KVB is a Hong-Kong based financial services company, specializing in serving overseas Chinese and Japanese clients. The company gets about 70% of its revenue from its online forex brokerage business. KVB also provides cash dealing and securities trading referral services. KVB has offices in Auckland, Sydney, Melbourne, Toronto, Hong Kong and Beijing. KVB is licensed by Australia’s ASIC, New Zealand’s FMA, and by the SFC (Securities and Futures Commission) of Hong Kong.
Some more details from KVB’s prospectus:
Revenues — KVB had Revenues of HK$123.2 million (USD $16 million) in 2012, although it did report that revenue in the first four months of 2013 more than doubled over the same period last year.
Hong Kong forex broker KVB Kunlun completes IPO Conclusion
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