LHN has applied to upgrade its listing from Catalist to the Mainboard, given how with "substantial growth", a listing on the latter will give it a more suitable platform" for its share.
It expects a Mainboard listing to also give a "perceived premium", and to also give it better visibility among investors.
LHN, under executive chairman Kelvin Lim, has demonstrated its ability sustain profitability and has grown its earnings from $5.4 million for its financial year ended Sept 30 2018 to $45.8 million for the most recent FY ended Sept 30 2022.
"Given the company’s market position, stage of growth and relative stability, the board is of the view that proposed transfer is timely and appropriate."
The proposed transfer is subject to SGX's approval, as well as the go-ahead from its own shareholders at an EGM to be held.
LHN shares closed at 35 cents on Aug 11, down 2.78% for the day and up 9.37% year to date.
