- POSTED: 02 Oct 2013 21:15
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Australian oil and gas company, Linc Energy, is looking to delist from the Australian market and make a new home at the Singapore Stock Exchange (SGX).
SINGAPORE: Australian oil and gas company, Linc Energy, is looking to delist from the Australian market and make a new home at the Singapore Stock Exchange (SGX).
The company is hoping a Singapore listing will boost the value of its assets, which span conventional and unconventional oil, gas and coal.
Linc cited Singapore's position as a regional energy hub for its decision, and said the move would broaden its shareholder base and increase access to international investors and capital markets.
Subject to shareholder approval next month, Linc aims to list on the SGX in early December.
Channel NewsAsia spoke with Linc Energy's chief executive officer Peter Bond on what inspired the move to Singapore.
Mr Bond said: "We think that Singapore, due to its growing energy hub, and the opportunities it presents through the Asian region, it will have the ability for the market, the Singapore market, to understand just how much value there is within the business."
Although the company's headquarters will remain in Brisbane for now, Mr Bond hinted at the possibility of an eventual relocation to Singapore, in line with the company's Asian-centric growth strategy.
He also spoke about a possible recovery for the Australian market.
Mr Bond said: "It's a short term blip in the Australian market. I'm sure it will come back in due course. But I'm more so looking at the bigger picture here. It's not just about resetting the share price in the short term and starting to get real value. It's about a strategic positioning of the business over the years ahead."