China focused e-commerce trader and software technologist, TTG, will join the ASX tomorrow (Tuesday November 27, 2012) after its Initial Public Offer closed earlier this month heavily oversubscribed.
TTG will join the bourse backed by investors taking a stake in accessing China’s vast credit card and e-commerce transaction market.
Co-chaired by Sydney-based Executive Director of Investorlink Corporate, Mr Chris Ryan, Shenzhen-based TTG, has, with China’s large UnionPay Financial Network group, co- developed the first software able to link card-based transactions by all offline and online market participants including consumers, consumer groups, merchants and financial institutions – on one cohesive transaction platform.
The system already has the backing under exclusive contract terms of the world’s largest bank card issuer, China’s UnionPay group, an organisation representing more than 80 of China’s major financial institutions and operator of a cross-bank settlement network under the guidance of the powerful People’s Bank of China.
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