Singapore Exchange (SGX) is pleased to welcome Oiltek International Limited to Catalist under the stock code “HQU”.
Oiltek International, a subsidiary of SGX-listed Koh Brothers Eco Engineering, is an integrated process technology and renewable energy solutions provider in the vegetable oils industry. Established in 1980, Oiltek International provides an innovative and diversified range of process and engineering solutions across the industry chain. Catering to all types of vegetable oils, such as palm oil, soybean oil and rapeseed oil which are major agricultural commodities, the company's key businesses include edible and non-edible oil refinery, renewable energy as well as product sales and trading.
Henry Yong Khai Weng, Executive Director and CEO, Oiltek International Limited, said, “We serve some of the world’s largest agricultural commodities markets with our technological know-how and solutions. With over 40 years of industry experience and our in-house proprietary process technology and know-how, we have provided a diversified and comprehensive range of engineering solutions for use across all different sectors of the vegetable oils industry value chain worldwide. We will leverage our unique expertise in this industry to further deepen our global footprint, tapping on sustainable growth prospects in the renewable energy sector.”
“This IPO presents a platform for Oiltek International Limited to advance into our next growth chapter. We would like to thank all our investors and stakeholders, including SGX, for their support to realise this listing!”
Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, said, “We are pleased to welcome Oiltek International Limited, a successful spin-off from the Koh Brothers’ group of companies. Given its track record and extensive global customer base, coupled with the positive industry prospects, it is timely for Oiltek International to leverage the capital markets to advance its growth ambitions. Through the listing, investors can now tap the growing opportunities in both the global oils and fats as well as sustainable and renewable industries.”
With a market capitalisation of around $32.9 million, the listing of Oiltek International Limited brings the total number of companies listed on Catalist to 219, with a combined market capitalisation of close to S$11.5 billion.
Oiltek International Limited opened at S$0.275 today.
