SGX welcomes Silkroad Nickel Ltd to Catalist

SGX announces trading volumes

Singapore Exchange (SGX) has just announced that it has 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, added:

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.

Read Also: