China New Town Development (D4N.SG) +5.8% at $0.180, 3rd most active stock on SGX today, on news company expects trading in its shares on Hong Kong bourse to commence October 22; listing by way of introduction only, so no shares being issued or sold in connection with listing, says Dow Jones. 

Developer of new towns in suburban areas of Chinese cities, listed in Singapore since November 2007, said in May that it was seeking dual primary listing in HK. 

 

Gains today likely on expectation that HK listing will increase investor base, raise profile of mainland developer, perhaps increase stock’s valuation; management says listing could also “potentially increase the liquidity of our shares...this is important for our growth and long-term development.” Such thinking makes sense, given investors in HK may be more in touch with China’s property market, concept of new towns, potential risks from Beijing’s cooling measures. Order book quotes suggest $0.185 as near-term cap.