KUALA LUMPUR: Hansard Group Sdn Bhd, a company involved in seaweed cultivation, aims to raise RM20 million via its listing on China''s Hai Xia Equity Exchange (HXEE).
Chief executive officer Wing Chong Yin said proceeds from the listing would be used as working capital to propel its Semporna Seaweed Cultivation Project in Sabah.
"We decided to list on the HXEE as we can capitalise on the large pool of potential investors created by the ever-growing affluence of China's vast population," he said.
He told reporters this after the signing ceremony to commence the listing process between Penang-based Hansard and CZX Holdings Co Ltd, the only approved listing adviser for the HXEE.
He said the timing of the listing is ideal given the capital controls that have been put in place by China's authorities to encourage domestic investments.
"At the same time, the product to be created from the Semporna Seaweed Cultivation project will primarily be exported to China," he added.
Wing said the listing on the HXEE would give the company greater visibility and credibility for a small and medium-sized enterprise. - Bernama
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