LHN receives in-principle approval from SGX to transfer Catalist listing to mainboard

LHN on Tuesday (Oct 24) said it received in-principle approval from the Singapore Exchange (SGX) for its proposed transfer of its Catalist listing to the bourse’s mainboard.

The approval is subject to compliance with listing requirements and a green light from the real estate management services provider’s shareholders.

The company said it will seek shareholder approval at an extraordinary general meeting to be convened. It will also release a circular containing details of the proposed mainboard transfer.

LHN first submitted its application for the transfer on Aug 11. It said at the time that transferring to the mainboard would give it a more suitable platform for the listing and trading of its shares, given the group’s substantial growth since listing on the Catalist board.

It believes having a listing on the mainboard would improve its image locally and abroad, and provide greater visibility and recognition in the market and among investors.

The group would also have access to a larger and more diverse investor market and more fundraising opportunities.

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LHN’s shares closed 1.6 per cent or S$0.005 lower at S$0.305 on Monday.