Hi-P plans return to public market, aspiring to achieve S$10b in annual sales by 2029

SINGAPORE contract manufacturer Hi-P International might seek a listing again in a couple of years, to fuel an expansion plan that includes achieving sales S$10 billion by 2029, said its executive chairman and owner Yao Hsiao Tung.

Yao, who handed over the role of chief executive officer to Lee Kong Ann on Friday (Feb 24), told The Business Times in an exclusive interview recently that Hi-P might go for a public flotation at the end of 2024 or early 2025, possibly with a dual-listing in Hong Kong or the United States.

This time, however, Yao plans to enlist professionals to ensure the stock gets a fair valuation in the market. He earlier delisted Hi-P because he felt the then Mainboard-listed stock was undervalued.