This will leave the company with just its primary listing on the Singapore Exchange
[SINGAPORE] Electronic company PC Partner Group has proposed a voluntary delisting from the mainboard of the Stock Exchange of Hong Kong (HKEX) to reduce dual-listing costs and support operational flexibility.
The decision was approved by the board on Friday (Sep 12), with an application submitted to HKEX on the same day, the company disclosed in a bourse filing. This will leave the group with its primary listing on the Singapore Exchange (SGX) mainboard. The company began trading on the local bourse in November 2024.
Founded in 1997, PC Partner said it has recently expanded into new Asia-Pacific markets, particularly in South-east Asia, as part of its growth strategy. Prior to that, it mainly operated in Singapore, Hong Kong, Japan, South Korea and the US.
It has also relocated its headquarters to Singapore and opened a factory in Batam, Indonesia.
The primary listing in Singapore strengthens the group’s strategic presence in South-east Asia, which PC Partner said will help it capture business opportunities in these areas more effectively. This includes greater flexibility in procuring high-end graphics processing units (GPUs) from its key suppliers.
But technological advances and potential trade policy changes in the future could pose challenges, it said.
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The group reckons that the primary SGX listing, coupled with a delisting from the HKEX, will reinforce its Singapore headquarters and improve flexibility in procuring high-end GPUs.
It will also support the group’s operational flexibility and reduce dual-listing costs, which would be in the best interest of shareholders and the company alike, it noted.
The proposed delisting is still at a preliminary stage and will require the approval of PC Partner shareholders at an extraordinary general meeting.
If the delisting goes through, shareholders can either continue holding their shares, which will stop trading on HKEX after the last dealing date, or transfer them to the Central Depository to trade on SGX.
Shares of PC Partner closed 0.9 per cent or S$0.01 lower at S$1.13, before the news.
