Oiltek International has announced plans for a secondary listing on Bursa Malaysia as part of its strategy to broaden its investor base.
The company, one of the top-performing stocks on the Singapore Exchange with a 390% gain over the past year and more than double year-to-date, said the proposed listing aims to improve share liquidity and boost its overall market value through an additional trading platform.
According to its July 21 announcement, Oiltek believes the move will also provide greater flexibility for future fundraising initiatives and facilitate access to multiple equity markets.
The company has appointed principal financial advisers in both Malaysia and Singapore to begin the necessary preparations.
As of 9:25 a.m., Oiltek’s shares rose 0.68% to trade at 74 cents.
