18/1/2018 – CNMC Goldmine Holdings and Singapore Kitchen Equipment, two SGX-listed enterprises are looking for dual primary listings of its share on the Hong Kong bourse.
CNMC Goldmine is looking to to list on the Mainboard, while Singapore Kitchen Equipment plans to list on Hong Kong’s Growth Enterprise Market (GEM).
The dual listing for both enterprises is aimed at increasing the company’s visibility to potential customers. It hopes to attract both private and institutional investors, in addition to widening the company’s investor and shareholder base to improve share liquidity.
Both companies also highlight that the primary listings in Singapore and Hong Kong will grant them ready access to two different equity capital markets in the Asia Pacific region.
Singapore Kitchen Equipment is a commercial and industrial kitchen solutions provider, which mainly deals in the fabrication and distribution of commercial kitchen equipment.
CNMC Goldmine, on the other hand, is engaged in the business of exploration, mining and processing of mined ore. It is currently focusing on the development of its flagship project, the Sokor Gold Field Project located in Kelantan, Malaysia.
With the proceedings from the proposed listing, both companies will use it to fund their expansion in the industry, as well as improving their footings in the Hong Kong market.
KGI Capital Asia has been appointed as the sponsor for the Hong Kong listing of Singapore Kitchen Equipment, while Alliance Capital Partners has been appointed as the sponsor for CNMC Goldmine in Hong Kong.
The terms are currently subjected to prevailing market conditions, but these potential listings may or may not involve a public offering of new shares.
This news is published on Reuters.