Sound Global (E6E.SG) +0.7% at $0.72 in thin trade, hardly swayed by China-based water treatment firm formally filing application to dual-list in Hong Kong by way of introduction, says Dow Jones.

Move comes after company revived listing plan last week following sudden decision in June to postpone original proposal for IPO. No time line given for listing.

“No doubt the dual listing is positive to a re-rating of Sound Global in the long term, (but) we do not expect a substantial re-rating instantaneously,” says DBS Vickers, which has Hold call with $0.84 target; “we believe Sound Global, having failed its first attempt to IPO in HK, would need to convince new investors in HK with a couple quarters of solid earnings delivery or meaningful contract wins.”

Immediate resistance at this week’s current high of $0.75.