Stock Track | Hong Leong Asia Soars 4.65% in Early Trading on Subsidiary's Hong Kong Listing Application

Stock Track

01/28

Hong Leong Asia's stock surged 4.65% in early trading on Wednesday, significantly outperforming the broader Singapore market which opened lower.

The sharp rise follows the company's announcement that Guangxi Yuchai Marine and Genset Power, an indirect subsidiary of China Yuchai International (CYI), has submitted an application to list its shares on the mainboard of the Hong Kong Stock Exchange. Hong Leong Asia holds a 48.7% stake in CYI. The Singapore Exchange (SGX) has advised that it had "no comments" on the proposal based on the company's submissions, effectively clearing the regulatory path in Singapore for this corporate action.

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