Samarkand Global PLC (LON:SMK) said it has placed around 2.7mln new shares to raise £3.15mln as part of a strategic investment from delivery group United Win Asia as part of an effort to develop the firm’s international expansion and technology strategy.
United Win Asia is a subsidiary of S.F. Holding Co Ltd, a leading express delivery company in China with a market cap of around £32bn.
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The ecommerce solutions firm said the placing shares had been priced at 115p each, a 33% discount to its closing price last Friday, adding that SF Holding’s logistics and delivery network in China will “combine strongly” with its own Nomad technology platform, and as a result, the two companies are providing “the full solution to allow international brands to access this market”.
Samarkand also said that the proceeds of its £17mln fundraising during its listing on the Aquis Stock Exchange in March are being used to further develop the functionality and brand services of its Nomad platform.
"SF Holding, with its global coverage and extensive delivery capability in China allows us to address a wide range of international clients with our technology solutions.
We have worked with SF Holding commercially for some time and this strategic investment is a massive vote of confidence in our expanding relationship and is a natural progression as we look to increase our capability and footprint internationally," Samarkand chief executive David Hampstead said in a statement.