Property firm Lian Beng’s affiliate plans Hong Kong listing

The IPO deal is still in its preliminary stages so details for the proposed listing of its 40%-owned associated firm, United E & P are not firmed up yet.

Lian Beng Group
Source: Lian Beng Group

Construction company Lian Beng Group on Tuesday said its 40%-owned associated company is looking to list on the main board of the Hong Kong Stock Exchange.

The associated firm, United E & P, supplies construction materials and handles general construction developments.

Lian Beng said the group is in the preliminary stages on getting the listing, hence, it is unable to provide details on the projected date of the listing.

The associate firm may decide to not proceed with the listing if any factors surface to reveal that a listing would not be of interest for the firm, Lian Beng noted in the statement.

Lian Beng said an application proof of the prospectus has been uploaded in draft form on the Hong Kong Stock Exchange website as information for the Hong Kong public.

Lian Beng is listed on the mainboard of the Singapore Exchange. It is a construction group with integrated civil engineering and construction support service capabilities.

Shares of Lian Beng closed at S$0.465 before the proposed listing announcement was made on Tuesday night. The counter opened lower on Wednesday morning, and was down by 2.15% or 1 Singapore cent at S$0.455 minutes into trading.

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