“The consumer sector that the company operates in is among the top performing sectors in Hong Kong’s capital markets,” says Food Empire in its Oct 16 statement.
The proposed dual primary listing will also have more potential to increase the liquidity of Food Empire’s shares, enhance its shareholders’ value and further enhance the its corporate profile and visibility in the international markets as the company seeks inorganic growth opportunities globally, it adds.
Quam Capital is the sole sponsor of the proposed dual listing while Quam Securities is the sponsor-overall coordinator in Hong Kong.
As at Oct 16, the company says that preparatory works are ongoing and no application has been made to the SEHK for the listing of its shares. No permission has been sought from the Singapore ExchangeSecurities Trading Limited (SGX-ST) either.
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Shares in Food Empire closed 1 cent lower or 0.88% down at $1.13 on Oct 16.
