Pixel to use IPO funds for expansion

<P>Pixel Media will use the estimated US$4 million it raised from its UK initial public offering to expand its regional network and invest in product and technology development.</P> <P>The interactive-focused advertising sales network, which counts MSN and China's Sohu.com as clients, identified Greater China and Southeast Asia as market development priorities, in addition to accelerating growth in its core markets of Hong Kong and Malaysia. "Our goal is to become the largest and most valuable online ad company in Asia," said Pixel's Hong Kong-based CEO, Kevin Huang.</P> <P>Pixel's 10 July listing on the London Stock Exchange's AIM board raised an estimated US$4 million and makes it one of the first Asian-headquartered digital operations outside Japan to capitalise on a renewed appetite for digital plays, according to Huang.</P> <P>At the time of listing, Pixel had a presence in Hong Kong and Kuala Lumpur and was staffing up a representative office in Shanghai.</P> <P>Launched following the September 2002 management buy-out of DoubleClick Media's Hong Kong business, Pixel also cited product and technology development as an investment priority. </P> <P>"We also intend to use the monies to expand our products and services to cater to advertisers and publishers in Asia, and around the online advertising and marketing sector."</P> <P>In addition to MSN Hong Kong and Sohu.com, Pixel's adsales portfolio includes SCMP.com and Atnext.com, which is operated by Hong Kong's Apple Daily.<BR></P>