Infinity Development eyes Catalist board listing in Singapore

Securing the listing will allow the company to carry a higher investment risk.

Infinity Development has announced it is working on getting listed on the Singapore Exchange’s Catalist board.

In a bourse filing, the company said it has applied to the Singapore Exchange Securities Trading Limited (SGX-ST) for permission to deal in, and for the listing and quotation of all its existing issued shares and the new shares on Catalist.

Infinity Development said “companies listed on Catalist may carry higher investment risk when compared with larger or more established companies listed on the Main Board of the SGX-ST.”

In particular, companies may list on Catalist without a track record of profitability, and there is no assurance that there will be a liquid market in the shares or units of shares traded on Catalist.

Upon listing and quotation on the SGX-ST, the company’s shares will be traded on the Hong Kong Stock Exchange and the SGX-ST.

Infinity Development said the listing will help enhance its public image locally and overseas and allow it to tap the capital markets in Singapore to fund its business.

“The Placement will also provide members of the public and others who have contributed to the success of our Group with an opportunity to participate in the equity of our Company. In addition, the proceeds from the New Shares will provide us with additional capital to finance our future plans and the general working capital of our Group,” the company added.

Pending the deployment of the net proceeds from the issue of the new shares, the funds may be placed in short-term deposits with banks and financial institutions, used to invest in short-term money market instruments, and/or used for working capital requirements as the company directors may deem fit at their absolute discretion.