18 January 18 The Business Times by WONG KAI YI
CATALIST-listed Singapore Kitchen Equipment is seeking a dual primary listing of its shares on the Growth Enterprise Market (GEM) board of the Stock Exchange of Hong Kong (SEHK) through a share offer.
The company, which deals in the fabrication and distribution of commercial kitchen equipment, announced in a statement on Wednesday that the opportunities provided by the dual listings will help increase the company's visibility to potential customers, attract both private and institutional investors, and widen the company's investor and shareholder base, helping improve its share liquidity.
Proceeds from the listing will potentially go towards improving its factory capability, expanding into the hospitality sector and improving its footing in the Hong Kong and Chinese markets.
The company said that as of the announcement, preparation for the listing was underway and "no application" had yet been made to SEHK, further cautioning that there was no assurance or certainty that the listing would happen.
Singapore Kitchen Equipment has appointed KGI Capital Asia Limited as its sponsor in Hong Kong in preparation for the listing.
The GEM board on the SEHK was launched in Nov 1999 and operates on the premise of "buyer beware", allowing emerging companies to list but does not require companies "to have achieved a record of profitability as a condition of listing", according to its website.
Singapore Kitchen Equipment shares finished at S$0.195 on Wednesday, up 5.4 per cent or 1 Singapore cent.