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ISDN appoints HK compliance adviser ahead of dual primary listing in HK

Tuesday, September 13, 2016 - 08:47

ISDN Holdings has appointed a Hong Kong compliance adviser, making headway in its plan for a dual primary listing there since it was first unveiled in March.

The Singapore-listed group appointed Shenwan Hongyuan Capital (HK) as its Hong Kong compliance adviser to ensure that it is in compliance with Hong Kong's listing rules as well as to review its financial reports. The appointment will be effective upon listing of the shares on the main board of the Hong Kong stock exchange.

ISDN had in March announced its plan to list in Hong Kong to enhance its profile in Hong Kong and in mainland China, and to attract investors with different profiles and allow the group ready access to these different equity markets in the Asia-Pacific region

It has since conducted a review of its operations. In its update on Tuesday, the group said it has undertaken measures to ensure full compliance with the relevant laws and regulations in the jurisdictions in which it operates including China, Indonesia and Vietnam.

ISDN has also assessed potential legal, operational and financial impact of its past operational practices and is of the view that such practices will not have any material impact to the group following the implementation of those measures.

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