Recently minted TTG Mobile Coupon Services (ASX: TUP) is maintaining share price momentum, and this week has traded above $1 - with a peak at $1.045.
The company is a Shenzen-based technology firm, and in conjunction with UnionPay, has developed the first software that is able to link credit card-based transactions by all online and offline market participants including in store point of sale machines, on one cohesive transaction platform.
UnionPay is an organisation of more than 80 of China’s major financial institutions.
The technology has already been rolled out in Shenzhen, and will be progressively rolled out over the next two years across other major metropolitan cities such as Beijing, Chengdu, Xiamen, Hainan and Shanghai, and will head Down Under by 2013 while making its presence felt in 150 Chinese cities by 2014.
IPO size less than one per cent of issued capital
The size of the IPO represented less than one per cent of TTG’s issued shares of nearly 635 million.
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