Gilly, ICQ is following the footsteps of Carsales but applying this strategy in a significantly larger Asian market -and when I say significantly larger, I am talking about countries where the total population size exceeds ~360million (18x larger than OZ). According to the most recent report by ICQ, the company has already achieved market-leading positions in Malaysia, Indonesia and Thailand.
Nevertheless, don't be worried by the low listing fees in these countries (moreover Singapore and HongKong markets are almost as expensive as Australia market), the market is so gigantic that these small listing fees easily snowball into millions.
Having said that ICQ must maintain it's monopoly over these markets and keep focusing on aggressive growth in order to surpass Carsales' success. Then I am confident -regardless of what happens to ASX- that SP will climb up to $10 within 3-5yrs.
I topped up a little bit more yesterday since ICQ fell back to mid $0.60s. I'm saving my money to spend on NEA
ICQ Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held
