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Hengxin Technology to delist from its secondary listing on SGX

HENGXIN Technology, a manufacturer of radio frequency coaxial cables series for mobile communications in China, intends to voluntarily delist from its secondary listing on the Singapore Exchange (SGX).

The group will retain its primary listing on the mainboard of The Stock Exchange of Hong Kong Ltd (HKSE).

Its rationale for delisting includes its thin trading volume of shares on the SGX as well as the additional administrative overhead and costs of compliance associated with being listed.

In a filing with the SGX, the company said that its primary listing on the HKSE is sufficient to meet its future debt and equity fund-raising requirements to meet its operations needs and future development.

An application has been made by the company to the SGX to seek its approval for the proposed delisting to take place on or about Feb 5, 2018.

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After the delisting, shares will only be traded on the HKSE. Shareholders' voting rights and entitlement to dividends will not be affected by the delisting, the firm added.

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