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Singapore LionGold exploring listing to junior bourse

[SINGAPORE] LionGold Corp Ltd, one of the companies at the centre of a penny stock crash in late 2013, is exploring a move to shift its listing from Singapore Exchange's main board to the junior bourse known as Catalist.

The company said its board believes that the proposed transfer will provide it with a more suitable platform for the listing and trading of its shares, it said in a statement late on Friday.

Share prices in LionGold, Blumont Group Ltd, and Asiasons Capital Ltd plunged in Oct 2013, wiping out around S$8 billion (US$5.9 billion) in market value in just two days after huge run-ups. The scandal led to a series of proposed reforms to the stock trading rules.