Upstream Asia lists on London's AIM

Aimed at boosting the firm's capital resources available to assist its strategic growth plans, the deal will see Raven 'acquire' Upstream Asia, and then be renamed Upstream Marketing and Communications Inc, essentially creating a holding company with a market capitalisation of almost US$50 million.
According to Upstream Asia chief executive officer David Ketchum, the deal will give the network, which currently boasts offices in six markets regionally as well as a similar number of affiliates regionally and globally, greater operational resources for continued organic growth as well as exploring potential acquisitions.
"It gives us a new dimension by having access to the capital markets," said Ketchum.
"We're growing strongly through organic growth, and we want to accelerate that growth by looking at acquiring other PR companies, web developers, online marketing companies and other financial communications companies," he added.
The deal is expected to be completed by mid-October, once the proposed takeover is ratified by Raven's shareholders at an EGM. Founded in 2000, Upstream Asia's clients include Apple, Qantas, eBay and Alcatel.