Hong Lai Huat gets approval for dual listing on Frankfurt Stock Exchange

Euro coinsPhoto by Leslie Shaffer

Hong Lai Huat has received all regulatory approvals for a dual listing on the Frankfurt Stock Exchange, with trading expected to begin next week, the Singapore-listed company said in a filing to SGX Friday.

Ong Jia Jing, group executive director, said the listing would help create greater awareness of the company for a larger base of investors and increase the stock’s visibility.

“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,” Ong said in the statement.

The company said the dual listing would provide a platform for greater access to international investors, while maintaining the SGX listing.

“The dual listing on FSE will also allow the group to have better access to the German-speaking financial community, which has Europe’s
largest retail investor community and stocks will become accessible to certain German funds that only allow investment in companies with a domestic listing,” Hong Lai Huat said in the statement.

The company noted FSE is one of the largest exchanges globally and is continental Europe’s largest.

Hong Lai Huat said it wouldn’t be issuing new shares for the dual listing.

Hong Lai Huat Group is a property developer, with projects in Singapore and Cambodia. The group also diversified into the agricultural sector in Cambodia in 2008, and has developed farmland producing cassava and has a cassava starch production factory.