Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
Shares of Singapore-listed water treatment firm Sound Global (SOGL.SI) fell 5.3% to $0.81 on Monday after the firm said it had postponed plans to seek a dual listing on the Hong Kong stock exchange.
Over 15.79 million shares were traded by 0231 GMT.
Over 15.79 million shares were traded by 0231 GMT.
“Investors don’t like the idea of the delay as its shares have risen recently due to its plans to list in Hong Kong,” a local trader said.
However, he noted that this will likely be short-term pressure on Sound Global’s share price as the firm is still fundamentally strong.
Sound Global, a Chinese turnkey water and waste-water treatment solutions provider, is postponing the dual listing because the proposed offering of new shares “cannot be concluded at this time on acceptable terms”, it said in a statement on Friday.
Sound Global had planned to raise as much as US$189 million ($262 million)in Hong Kong and was scheduled to list in July.
