Acquity IPO watch: Hong Kong e-commerce and digital marketing agency Acquity Group (AQ) landed on the NYSE on Friday. The first day AQ closing share price was $5.71, a decrease of 7% compared with the Acquity IPO price of $6, which is below the bottom of the previously announced Acquity IPO price range of $8-$10. The company commands a market value of $134 million and received proceeds of approximately of $33.33 million. AQ ADSs (American Depository Share) trade 24.8 times earnings.
Acquity Group, founded in 2001 and headquartered in Hong Kong, is a multi-channel e-commerce and digital marketing company. Its principal business is to help the global brands to expand the consumer channels on the Internet through digital marketing and e-commerce platforms. Global Growth acquired the company in 2008 and Lu Guangming is serving as CEO of the company. The company owns stakes of 19.9% and 66% in “Digital Li Ning” and the Chinese sport apparel B2C website cool movement, respectively. At present, Acquity’s partners include McDonald’s, Motorola, Microsoft, and Adobe.