Interest in Sound Global’s (E6E.SG) revived Hong Kong dual listing plan short-lived, with shares flat at $0.765 on moderate volume vs +3.4% yesterday, according to Dow Jones.

As proposal still at evaluation stage, upside for shares likely minimal until exercise takes off. Orderbook quotes tip $0.75-$0.78 trading band for rest of session.

China-based water treatment firm seeking to list by way of introduction vs original plan, shelved in June, to sell up to 430 million new shares in IPO.

“This kind of listing would be ‘cleaner’ with no dilution risks. Our guess is that the Hong Kong listing would take place no later than mid-November,” says CIMB, which has Outperform call with $1.08 target.