Huationg Global seeks dual listing in HK

Singapore

CIVIL engineering firm Huationg Global on Tuesday said that it is seeking a dual primary listing in Hong Kong in a bid to tap into a wider investor base.

"The board believes that having a primary listing status in both Singapore and Hong Kong is beneficial to the company as this provides the company with ready access to these different equity markets as and when opportunities arise," it said in a regulatory filing.

"The board further believes that the proposed dual listing will increase market visibility of the company, and attract investors with different profiles."

The company has appointed VBG Capital as the sole sponsor for the proposed dual listing.

It cautioned that as at the date of this announcement, preparatory works are ongoing and no application has been made to the Stock Exchange of Hong Kong or the Singapore Exchange over the proposed dual listing.

The Singapore company was listed in 2014. Its shares are trading 34.5 per cent lower than its IPO price of S$0.20, data from its website showed.

Shares of Huationg closed on Tuesday at S$0.131, up 0.1 Singapore cent.