Continue reading this on our app for a better experience

Open in App
Home News Catalist watch

Union Gas receives in-principal approval for transfer to Mainboard

Atiqah Mokhtar
Atiqah Mokhtar • 2 min read
Union Gas receives in-principal approval for transfer to Mainboard
Union Gas says a listing on the Mainboard would provide the company with greater visibility and recognition in the market.
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Union Gas Holdings has received in-principal approval from the Singapore Exchange Securities Trading (SGX-ST) for a proposed transfer to the Mainboard, subject to shareholders' approval at an Extraordinary General Meeting to be convened.

Union Gas, which has been listed on the Catalist board since July 2017, had submitted the application for the transfer on April 27.

See also: Union Gas Holdings draws SGX query after share price leap

In its press release dated June 11, Union Gas says it believes a listing on the Mainboard would provide the company with greater visibility and recognition in the market.

“The Group believes that listing on the Mainboard would provide us with a wider platform to reach out to a larger investor base (which may include institution investors and/or overseas based investors), with greater opportunities for future fund raising and corporate actions,” says Teo Hark Piang, executive director and CEO of Union Gas.

“This could potentially facilitate the Group to better tap into capital markets (both equity and debt) where such opportunities for certain fundraising activities are presented to companies of larger market capitalisation and/or companies listed on the Mainboard, to meet the Union Gas’ funding requirements and provide the Group with greater flexibility to pursue its future plans,” Teo adds.

Shares in Union Gas closed 1 cent or 1% lower at 95.5 cents on June 10.

Cover photo: Union Gas Holdings

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.