HONG KONG, March 4, 2020 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick") (NASDAQ: ICLK), an independent online marketing and enterprise data solutions provider in China, today announced that it has entered into a credit facility of more than US$30 million (the "Facility") with HSBC across working capital and general corporate support.
The Facility, arranged by HSBC's GBA+ Technology Fund, will further strengthen iClick's financial position and the execution of strategic initiatives in China's Guangdong-Hong Kong-Macau Bay Area ("GBA"). The proceeds from the Facility will be used to further propel iClick's digital marketing business, develop iClick's Enterprise Solutions, and support general corporate purposes.
"We are pleased to announce this Facility, which is another tangible sign of the robust growth of iClick and a testament to our future prospects and the strength of our business model," said Jian "T.J." Tang, Chief Executive Officer and Co-Founder of iClick. "The GBA has proved to offer tremendous opportunities to new economy companies in the region in recent years. The Facility will improve our working capital that helps supercharge the growth of our core business, specifically across social and Key Opinion Leader-related channels, whilst allowing us to enhance our ability to provide value-added solutions to brands looking to expand into the Chinese market, especially as we remain fully committed to build out our enterprise solutions business. We are excited to have strong financial partners like HSBC as we continue to grow our pipeline."
iClick was featured in the "GBA+ Technology Fund" video series launched by HSBC Commercial Banking, in which Sammy Hsieh, Co-founder and Chairman of the Board of iClick, participated and discussed the significant development potential that China is offering new economy companies. The GBA is China's landmark initiative to develop the nine cities of Guangdong's Pearl River Delta, Hong Kong and Macau into an integrated economy and world-class business hub.
iClick was founded in Hong Kong in 2009 and has developed into one of the largest independent marketing technology platforms in China, with over 800 million Chinese consumer datasets. The company now operates a number of locations in the GBA and across China, as well as abroad, and was listed on Nasdaq in December 2017. Beginning in 2018, iClick extended its scope to provide enterprise solutions to multiple sectors such as retail, education, transportation and real estate, just to name a few.
About iClick Interactive Asia Group Limited
iClick Interactive Asia Group Limited (NASDAQ: ICLK) is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, its proprietary platform possesses omni-channel marketing capabilities and fulfills various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and currently operates in ten locations worldwide, including in Asia and Europe.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's fluctuations in growth; its success in implementing its mobile and new retail strategies, including extending its solutions beyond its core online marketing business; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favourable contractual terms; market competition, including from independent online marketing technology platforms as well as large and well-established internet companies; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; fluctuations in foreign exchange rates; and general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
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iClick Interactive Asia Group Limited
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SOURCE iClick Interactive Asia Group Limited