LHN (HKG:1730, SGX:41O) said it submitted an application to de-list its shares from the Hong Kong Stock Exchange, according to a Hong Kong bourse filing Friday.

Shares jumped over 1% in morning trade Monday.

The real estate services firm said its board took the decision to delist from the bourse for reasons of cost and utility.

The company's shares will instead retain their primary listing on the Singapore Exchange.

Hong Kong shareholders will have the option to either retain their shares or exchange their holdings for shares on the Singapore bourse.

LHN said it will seek shareholder approval for the delisting at an extraordinary meeting planned for a later date.