Hong Lai Huat to dual-list on Frankfurt bourse

Published Fri, Dec 3, 2021 · 10:02 PM

PROPERTY developer Hong Lai Huat Group (HLH) is expected to commence trading on the Frankfurt Stock Exchange (FSE) the following week after receiving regulatory approval for a dual listing.

There will not be any issuance of new shares for the dual listing on FSE, and its primary listing will be maintained on the mainboard of the Singapore Exchange.

In a bourse filing on Friday (Dec 3), the group said the dual listing will provide a platform for it to reach a broader audience and greater access to international investors.

The move will allow the group to have better access to the German-speaking financial community, which has Europe's largest retail investor community. Stocks will also become accessible to certain German funds that only allow investment in companies with a domestic listing.

The open market in Frankfurt mainly trades foreign shares, bonds of German and foreign issuers, certificates and warrants in addition to German shares. Currently, 44,366 international securities are tradable in the open market.

HLH group executive director Ong Jia Jing said: "We hope the dual listing will allow us to reach out to more international investors, allowing Hong Lai Huat to benefit from new foreign investors looking to expand and invest in high growth emerging markets such as the Kingdom of Cambodia."