General Announcement::News release: SGX welcomes Silkroad Nickel Ltd to Catalist

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
30-Jul-2018 09:48:06
Status
New
Announcement Sub Title
News release: SGX welcomes Silkroad Nickel Ltd to Catalist
Announcement Reference
SG180730OTHR7F66
Submitted By (Co./ Ind. Name)
Ho Lily
Designation
AVP, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today welcomed Silkroad Nickel Ltd to its Catalist under the stock code "STP".

Silkroad Nickel Ltd is primarily in the business of exploration, mining, production and sale of nickel ore. Based in Indonesia, the group has the mining business licence to carry out nickel ore mining operations in the Morowali Regency, Sulawesi Tengah Province, Indonesia.

Hong Kah Ing, Chief Executive Officer & Executive Director of Silkroad Nickel said, "We aim to generate sustainable returns to our shareholders by progressively ramping up our production capacity with investments in equipment, infrastructure and people, with the addition of eventual export sales of our nickel ore. We plan to explore the remaining area of our Mining Concession Area so as to map out the next phases of growth and to identify new concession areas for future acquisitions."

Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development at SGX, said, "We are pleased to welcome Silkroad Nickel to SGX Catalist, the first nickel mining company listed on SGX, further expanding our Mineral, Oil and Gas offerings, and allowing new and existing investors to tap into the growth opportunities in the mining industry in Indonesia."

With a market capitalisation of about S$92 million, the listing of Silkroad Nickel brings the total number of Mineral, Oil and Gas companies listed on SGX to 26, with a combined market capitalisation of more than S$2.5 billion. The total number of companies listed on Catalist stands at 209, with a combined market capitalisation of about S$12 billion.

Silkroad Nickel opened at S$0.30 today.

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