Yet, in an interview with The Edge Singapore, Julian Ng, GVT’s CEO and executive director, tried to downplay the significance of this possible secondary listing. For him, the move ought to be seen as yet another round of fundraising the company has undertaken in its 12-year history.
Over the past year, nearly 50 companies have launched IPOs on Bursa Malaysia. Each new listing adds to the market’s momentum and encourages investors to pay higher multiples for certain stocks than for similar entities listed on other exchanges.
The Bursa was so attractive that several Singapore-listed companies expressed interest in seeking a listing across the causeway. UMS Integration said so in July, followed by Grand Venture Technology (SGX:JLB
) (GVT), which signalled its intention to do the same two months later.
