Oiltek International is seeking a secondary listing on the Bursa, in a bid to widen its base of investors.
The company is one of the top-performing Singapore-listed stocks in the past year, with a gain of 390% and more than double year to date.
According to Oiltek in its July 21 announcement, the proposed secondary listing can potentially increase the liquidity of its shares and enhance the company’s value through a separate trading platform.
Oiltek says this move can let it tap into additional platforms for future fund-raising and provide it with the flexibility to access different equity markets.
It has appointed principal financial advisers in Malaysia and Singapore to commence the preparatory work.
Oiltek shares gained 0.68% to change hands at 74 cents as at 9.25 am.
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