Pacific NetMarkets plans Nasdaq IPO

Pacific NetMarkets, which builds and operates online trading exchanges, plans to raise $60 million to $80 million in a Nasdaq IPO.

Pacific NetMarkets, which builds and operates online trading exchanges in Asia, plans to raise $60 million to $80 million in an initial public offering on the US Nasdaq in a bid to raise its profile, attract top managers and speed growth.

The Hong Kong-based company is poised to launch web sites that match buyers and sellers in Asia's food processing, pharmaceuticals and print industries. Its aim is to cut customers' costs by simplifying and accelerating their supply and distribution processes. By the end of the year Pacific NetMarkets expects to establish electronic marketplaces in at least three more industries. The company aims to list its shares in the fourth quarter.

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