Guan Chong maintains plans for secondary listing in Singapore

  • Business
  • Friday, 13 Jul 2012

KUALA LUMPUR: Guan Chong Bhd is still going ahead with the proposed secondary listing on the Singapore Exchange, dismissing a wire report on Friday that it might scrap the plan.

The company said t had undertaken investor roadshows to target not only institutional investors but also potential strategic investors with long-term view.

The share sale of up to 62.0 million shares would be 18% of Guan Chong's enlarged share capital of 350.7 million upon completion of its listing exercise. The shares would also be offered to Singapore public investors.

A news wire report said Guan Chong's public offering in Singapore of up to 62.0 million shares would be scrapped if a significant stake was sold to another company prior to the corporate exercise.

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