Shareholders of Brisbane-based Linc Energy will next month vote on plans to delist from the ASX in favour of a listing on the Singapore Exchange.
Linc told investors today that listing on the SGX would improve access to international energy, oil and gas investors, highlighting “increasing demand for oil and gas in Asian markets”.
“The company believes the transition will improve access to capital markets and reposition the business to deliver its long-term growth strategy,” it announced.
“Coinciding with the SGX listing, the company is considering offering shares to new investors.”
Subject to shareholder approval at an extraordinary general meeting on November 6, Linc will stop trading on the ASX on November 15, delist from the ASX on 6 December and list on the SGX that same day.
Its headquarters will remain in Brisbane, and the company will continue to be bound by Australia’s Corporations Act and continuous disclosure requirements.
Linc made its announcement to the ASX when the market opened this morning. Shares have risen almost 2.5% since.