Upstream to list on London AIM

Regional PR agency Upstream Asia has announced its plans to list on the London Stock Exchange AIM via a reverse takeover with listed cash shell company, Raven Capital Inc. 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. <br><br> According to Upstream Asia CEO David Ketchum (pictured), the deal will give the network greater operational resources for continued organic growth as well as exploring potential acquisitions. <br><br> "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." <br><br> The deal is expected to be completed by the middle of October.