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Today, it received in-principle approval and will list on Hong Kong's mainboard come 18 October.
"CapitaMalls Asia may not be raising new capital from its listing in Hong Kong, but the move will allow the mall developer to widen its investor base here in Hong Kong and by default China.
"This is expected to help improve its market visibility and trading liquidity - which then opens up additional sources of funding for the company."
Read complete article here.
Although I continue to believe in the fundamentals of CapitaMalls Asia as well as its longer term prospects, its share price is something else.
Technically, the counter's share price is very much in a downtrend. Selling into strength is, therefore, a sound strategy.
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2 comments:
if the experience of fortune reit is anything to go by, a dual list will mean that investors from the HK bourse will drive the prices up. will do so, when i broke even this has been a very disappointing counter for my long term portfolio.
Hi SnOOpy168,
This counter could become quite rewarding over the next few years. This is what I believe. :)
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