Hong Kong-based PC Partner Group will commence trading on the Singapore Exchange S68 on Nov 15, joining a growing list of secondary listings here.
The company received its eligibility-to-list to list from SGX on Nov 4. The listing is by way of introduction and so there will be no new capital raised.
PC Partner's existing Hong Kong quoted shares closed at HK$4.940, up 54.86% year to date, giving it a market cap of HK$1.9 billion, or some $330 million.
According to the company on Sept 4, following this secondary listing, it intends to convert to a primary listing on the SGX, and eventually delist from the Hong Kong Exchange.
PC Partner says this is a "strategic move" for its long term business growth and development, as it plans to use Singapore as its new headquarters.
The company plans to set up a new manufacturing facility in Batam, Indonesia, in line with the so-called China+1 approach that many manufacturers are adopting after the trade war broke out between US and China.
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By doing so, PC Partner believes it can "capture business opportunities in these areas more effectively."
The company was founded in 1997 and is known to focus on making video and graphics cards either as a contract manufacturer or under its own brands and has also ventured into assembling its own PCs and most recently, cloud computing.
For its half year ended June 30, PC Partner reported earnings of HK$194.1 million, a jump from just HK$20.1 million recorded in the year earlier. Revenue was up from HK$4.18 billion to HK$4.94 billion in the same period.
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On Nov 15, the SGX quoted shares opened at 85 cents, went up to 87.5 cents but ended the day at 84 cents.
