Company Briefs: CNMC Goldmine Holdings

CNMC Goldmine Holdings

CNMC Goldmine Holdings has submitted an application to the Stock Exchange of Hong Kong (SEHK) for a dual primary listing on its mainboard.

The Malaysia-based gold miner has appointed Alliance Capital Partners as its sole sponsor for the dual listing, which will be subject to approval from its shareholders, SEHK and the Singapore Exchange.

The application proof of the prospectus will be uploaded on SEHK's website.

CNMC Goldmine said the success of its proposed dual listing is dependent on prevailing market conditions. Even after all relevant approvals have been obtained, it may decide not to proceed with the listing.

Citic Envirotech

Mainboard-listed Citic Envirotech yesterday officially launched its wholly owned subsidiary, Singapore Envirotech Accelerator, at Singapore International Water Week 2018.

Formed in collaboration with the Economic Development Board, the accelerator will drive innovation and commercialisation of environmental technologies. It will identify promising small and medium-sized enterprises and help them bring their innovations to market, with the possibility of listing on the Singapore Exchange in future.

Another Citic subsidiary, Memstar, unveiled the opening of its first membrane manufacturing plant outside Asia in Texas.

The US$15 million (S$20.4 million) facility will manufacture Memstar's latest product, the Memstar Advance Reverse Osmosis and Nano Filtration Membrane, which expands the group's capabilities to offer a complete range of membrane filtration products for water treatment.

Xiaomi Corp

Xiaomi Corp shares surged 13 per cent yesterday, a day after its disappointing debut, gaining roughly US$6 billion (S$8 billion) of market value as investors begin to pile into the world's third-largest listed smartphone maker.

The shares ended at HK$19, well above its HK$17 initial public offering (IPO) price. About HK$9.7 billion (S$1.7 billion) worth of shares changed hands, more than the value traded during its debut. The rebound more than made up for Monday's 1.2 per cent decline: the worst first-day performance by a US$1 billion-plus Hong Kong IPO since 2015.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on July 11, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe