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IPO for Pulse Group
Panels and Research Process Outsourcing (RPO) firm The Pulse Group has announced its Initial Public Offering (IPO) on the PLUS markets in London, with trading commencing today.
The Group commenced operations just 33 months ago in Kuala Lumpur, Malaysia and its brands and services include Asia Pac and Middle East online respondent community Planet Pulse; online data collection; survey programming, DP and analysis; MR translations; and qualitative research. Pulse currently has around 340,000 profiled panellists.
Pulse says the IPO proceeds are to be re-invested mainly into panel growth, International expansion, and working capital: it will also gain a platform for planned acquisitions, with 'a number' of suitable candidates 'already identified'. Chairman and CEO Bob Chua comments: 'The IPO signifies an integral stage of our growth, as it allows us to accelerate all facets of our business, and unleash our full potential as a leading Online panel company in the market intelligence industry. We will also have the currency to pursue inorganic growth routes, which we look forward to pursuing very quickly.'
The company will trade under its holding company 'Pulse Group PLC' with the PGRP symbol.
In addition to Chua, key company officers are COO Kym Wong; CFO Lim Tze Wye; and two Non-Executive Directors (NEDs), former Synovate leader Bill Pegram and Hideaki Fujiyama. Pulse says that following Admission to the exchange it intends to appoint an additional UK based NED with public company experience. The firm's Directors hold c.59% of issued share capital.
The company, which has regional offices in New York, London, Sydney and New Delhi, is online at www.pulse-group.com .
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