LHN gets in-principle nod to transfer SGX Catalist listing to mainboard
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LHN submitted its application to SGX for the transfer on Aug 11, saying at the time that transferring to the mainboard will give it a more suitable platform for the listing and trading of its shares.
ST PHOTO: KUA CHEE SIONG
Vivienne Tay
SINGAPORE – LHN on Tuesday said it received in-principle approval from the Singapore Exchange (SGX) for the 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 submitted its application for the transfer on Aug 11. It said at the time that transferring to the mainboard will 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 will 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 fund-raising opportunities.
LHN shares ended trading on Tuesday up one cent, for a 3.3 per cent rise from Monday, at 31.5 cents. THE BUSINESS TIMES
