Hong Kong-listed China Medical System said on Tuesday it has applied for a secondary listing of its shares on the Singapore Exchange.
The pharmaceutical company said it will not issue new shares on the Singapore exchange, and its primary listing would remain in Hong Kong.
The news comes as Chinese firms look to expand in Southeast Asia amid global trade tensions, providing a boost to Singapore Exchange.
At least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months, Reuters reported in May, citing four sources.
Despite being a popular venue for yield plays such as real estate investment trusts, the Singapore Exchange has been struggling to attract mega listings and bolster trading volumes.
Reuters
