$Food Empire (F03.SG)$ Food Empire is currently exploring a ...

Food Empire is currently exploring a proposal to seek a dual primary listing of its shares on the Main Board of the Stock Exchange of Hong Kong (SEHK).

Stocks in HK usually have a higher valuation.

A dual primary listing is said to benefit the company in terms of providing it access to two equity markets in Singapore and Hong Kong. The dual listing will also provide the company with a more diverse investor and shareholder base as well as additional sources of fundraising.

"The consumer sector that the company operates in is among the top performing sectors in Hong Kong's capital markets," says Food Empire in its Oct 16 statement.

The proposed dual primary listing will also have more potential to increase the liquidity of Food Empire's shares, enhance its shareholders' value and further enhance the its corporate profile and visibility in the international markets as the company seeks inorganic growth opportunities globally, it adds.

Quam Capital is the sole sponsor of the proposed dual listing while Quam Securities is the sponsor-overall coordinator in Hong Kong.

As at Oct 16, the company says that preparatory works are ongoing and no application has been made to the SEHK for the listing of its shares. No permission has been sought from the Singapore Exchange Securities Trading Limited (SGX-ST) either.