Steptoe & Johnson Advises on AIM Flotation of Sinosoft Technology plc

Steptoe & Johnson have advised Westhouse Securities LLP, the nominated adviser and broker, on the flotation of Sinosoft Technology plc on the London Alternative Investment Market of the London Stock Exchange (AIM).

Sinosoft are a leading developer and provider of software and IT solutions to the Chinese government and export enterprises in China. The market capitalisation of Sinosoft was £31.5 million (US$55 million) on opening, and the funds from the placing are being used to expand its research and development capabilities and its sales and marketing network, while the remaining funds will be used for working capital and to repay debt.

Steptoe & Johnson Corporate partner Michael Thompson, who led the team said: "There is a growing trend of overseas organisations coming to the AIM market, particularly from China. I believe this is an area that will carry on growing over the next few years".

Michael Thompson was assisted by Mike Fox (Corporate) and Winnie Chang (Technology).

Pinsent Masons acted for Sinosoft Technology.

The London office of Steptoe & Johnson provides the capabilities of a large international law firm in a smaller environment. The office of more than 30 lawyers  has a strong corporate practice (M&A and private equity), as well as practices in technology and telecoms, insurance/reinsurance, international dispute resolution, commercial property, international trade and employment.

For more information, contact Robert Harris (European Marketing Manager) +44(0)20 7367 8054 or email rharris@steptoe.com.