Yangzijiang (BS6.SG) is up 4.46% at 7-week high of $1.17 on strong volume as market chatter of shipbuilder planning dual listing in Hong Kong resurfaces, reported Dow Jones Newswires.
The idea for secondary listing has been raised by management in past results briefings but nothing concrete planned so far.
Traders say company may start to put words into action since number of other SGX-listed China companies, such as Epure (E6E.SG), Z-Obee (D5N.SG), China XLX Fertiliser (B9R.SG) have already gone ahead.
“I think it’s a matter of time that they will do it as the management feels the stock is still undervalued,” says analyst at Singapore brokerage.
When contacted, Yangzijiang spokeswoman says nothing has been confirmed. Resistance eyed at $1.20, last breached in January.
