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PAQ makes AIM debut

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Date: Monday 25 Feb 2008

LONDON (ShareCast) - PAQ International, which manufactures protective bags for electrical devices, raised just over £1m on AIM this morning when it placed 16.67m shares at a price of 6p each.

At the current price of 7.75p, the group now has a market capitalisation of £9.34m.

“I am delighted by the response from investors in London to our fund raising,” said chief executive Kelvin Yau.

“Our admission to AIM will provide funds to accelerate our international expansion, including the purchase of other manufacturing and distribution businesses in China and the development of our retail business in many territories, including China and the UK,” he added.

Zimmerman Adams International is nominated adviser and broker to the company and Hichens, Harrison & Co. is co-broker.