"The proposed listing is expected to diversify Oiltek’s investor base, increase trading liquidity and provide greater flexibility for future capital-raising initiatives," states Cheong in his July 22 note.
John Cheong of UOB Kay Hian has again raised his target price for Oiltek International following the company's bid for a secondary listing on the Bursa.
By doing so, the company aims to lift its visibility and accessibility among Malaysian investors, particularly given its strong operational footprint in Malaysia.
