SGX-listed Oiltek International Limited has announced plans to seek a secondary listing of its entire issued share capital on the Main Market of Bursa Malaysia Securities Berhad.
The Board sees three benefits: a broader investor reach and wider investor base, potentially improved share liquidity and enhanced value through trading on separate platforms, and access to additional platforms for future fund raising across different equity markets.
Principal financial advisers in Malaysia and Singapore have been appointed to commence preparatory work, including the Company’s application to the relevant authorities. As at the date of the announcement, no application had been made to the Securities Commission Malaysia.
The Board has cautioned that the proposal is at a preliminary stage, involves extensive preparatory work of uncertain duration and is subject to regulatory approvals, with no assurance that the listing will materialise. Shareholders and potential investors are advised to exercise caution when trading in the Company’s shares.
