Swiss drugs industry supplier Lonza (LONN.VX) said on Friday it plans a secondary listing on the Singapore stock exchange, giving it access to large capital flows in Asia and helping it to enlarge its investor base in the region.
The Basel-based group said it had submitted an application for a secondary listing on the Main Board of the Singapore Exchange Securities Trading Limited and expects the first day of trading to take place in the fourth quarter of 2011.
“We already have a strong presence across a large footprint in Asia and this secondary listing signals Lonza’s long-term commitment to the region,” Chief Executive Stefan Borgas said in the statement.
Lonza, which bought U.S-based Arch Chemicals earlier this year to boost its presence in fast-growing emerging markets, employs 1,400 people in Asia and generated 14% of its revenues in the region in 2010.
Lonza said the Singapore branch of UBS (UBSN.VX) had been appointed to act as the sole issue manager for the introduction.
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