General Announcement::News release: SGX Welcomes China Jinjiang Environment to Mainboard
Issuer & Securities
SINGAPORE EXCHANGE LIMITED
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Date &Time of Broadcast
Announcement Sub Title
News release: SGX Welcomes China Jinjiang Environment to Mainboard
Submitted By (Co./ Ind. Name)
AVP, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today welcomed China Jinjiang Environment ("Jinjiang Environment") to Mainboard under the stock code "BWM".
Jinjiang Environment is the first private waste-to-energy ("WTE") operator in the People's Republic of China ("PRC"), with the largest treatment capacity. Its business primarily focuses on the planning, development, construction, operation and management of waste-to-energy facilities.
Jinjiang Environment provides energy management contracting services to companies in the metallurgical, chemical and power generation industries. It is the first WTE operator in the PRC to develop and industrialise differential-density circulating fluidised bed ("CFB") technology. Jinjiang Environment has accumulated 18 years of operational experience, and continues to maintain a leading position for CFB technology for WTE in the PRC.
Wang Yuanluo, Executive Chairman and Chief Executive Officer of China Jinjiang Environment, said, "We believe that a listing on the SGX Mainboard will further enhance our brand image and recognition, and provide us with a platform to expand our business internationally, especially with a focus on Southeast Asia. We are familiar with the Singapore market, having been previously involved in two tenders conducted by the National Environment Agency in Singapore."
"We have an established track record of safe, efficient and environmentally sustainable operations, delivering valuable economic and environmental benefits as we convert waste into power. We intend to leverage on our reach and extensive network to enhance our future growth, technical expertise and research and development capabilities, allowing us to innovate and adapt to the demands of the WTE industry," she added.
Chew Sutat, Head of Equities and Fixed Income, SGX, said, "We are pleased to welcome China Jinjiang Environment, the leading waste-to-energy operator in the People's Republic of China to our Mainboard. We look forward to supporting the company as it looks to tap international investors and expand its business in the Southeast Asia region through a listing on SGX."
The listing of Jinjiang Environment will bring the total number of SGX Mainboard companies to 586, with a combined market capitalisation of about S$902 billion.
Jinjiang Environment opened at $0.885 today.
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