Malaysian data center company CSF Group is looking to raise up to £28 million in a listing on the junior stock exchange in London, London AIM (Alternative Investment Market) on 22 March.

According to a Financial Times report, CSF will raise the amount through the issue of new shares equivalent to a third of its equity.

CSF designs, develops and operates data centers in Malaysia for domestic Malaysian, South East Asian and large international businesses. It also reportedly has acquired minority interests in companies in both Vietnam and Thailand, in order to facilitate its planned expansion into these countries.

Last month, Frost and Sullivan predicted that demand for data center space in Asia-Pacific will significantly outpace supply in the region. It believes that the market in this region will grow by 14.7 percent in 2010 and by 16.4 percent in 2011.

CSF's broker and adviser for the AIM listing is Cenkos Securities.