Samchem mulls listing Vietnamese unit

KUALA LUMPUR: Industrial chemicals distributor Samchem Holdings Bhd (Samchem) is exploring the possibility of listing its Vietnam unit, Samchem Sphere JSC (Samchem Sphere) on the Ho Chi Minh Stock Exchange to capitalise on the country’s fast-growing economy.
“The proposed listing will enable Samchem to capitalise on the fast-growing Vietnamese economy and the potential growth of the industrial chemical sector in Vietnam,” it said in a filing to Bursa Malaysia today.
It would also provide a platform for Samchem Sphere to obtain a listing status, and gain direct access to the Vietnamese capital market to raise funds for its future expansion and continued growth without having to rely on Samchem’s existing resources, it added.
Samchem said the proposed listing would enhance Samchem Sphere’s profile and increase its visibility to customers, suppliers, business associates and investors in Vietnam.
A corporate adviser licensed in Vietnam has been appointed to evaluate and advise on the proposed listing of the company. – Bernama