Business
PC Partner Eyes Singapore for New HQ and Secondary Listing: A Strategic Move into Southeast Asia
The Hong Kong-based tech company, PC Partner, is considering relocating its main office and opening a second listing in Singapore as part of its plans to extend its reach into Southeast Asia.
The Singapore listing offers a way for establishing "a calculated foothold in Southeast Asia…that, according to PC Partner, will enable the firm to more efficiently seize business opportunities in these regions." The board of directors thus believes that the [listing] serves the company's and its shareholders' interests collectively.
Shares of PC Partner experienced a dip of 0.9% to HK$4.47 in Hong Kong's market on Friday. Nevertheless, the company's stock has seen a significant increase of 42% this year, surpassing the standard Hang Seng Index, which only managed to secure a 5.5% increase during the same time frame.
Upon finalizing its secondary listing in Singapore, PC Partner announced its intention to eventually transition this into a primary listing. This shift would prompt the removal of its listing status in Hong Kong, according to the firm's statement.
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