Singapore Exchange (SGX) announced that today has welcomed Union Gas Holdings Limited to Catalist under the stock code “1F2”.
Union Gas Holdings Limited is an established provider of fuel products in Singapore, with a strong heritage of over 40 years and trusted brand names “Union” and “Cnergy” under its management. It is one of the leading suppliers of bottled liquiefied petroleum gas (LPG) cylinders to domestic households in Singapore.
In addition, the company operates a fuel station to produce, sell and distribute compressed natural gas (CNG). The company also engages in the sale and distribution of diesel to both retail and commercial customers.
Alexis Teo, CEO of Union Gas Holdings Limited, said:
Union Gas Holdings has come a long way since we started more than 40 years ago at a small sundry shop in Marine Terrace selling bottled LPG cylinders to domestic households nearby. Today, we have one of the largest delivery fleets in Singapore with more than 100 trucks delivering bottled LPG to more than 140,000 homes. In addition, our fuel station in 50 Old Toh Tuck Road sells and distributes CNG for commercial use and diesel to retail customers.
We are very excited to embark on our growth plans following our successful listing on the Catalist Board of SGX-ST. My management team and I are determined to carry on the legacy that has made us a leading supplier of LPG and CNG in Singapore and established ‘Union’ and ‘Cnergy’ as trusted household names here.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, commented:
We are delighted to welcome the listing of Union Gas Holdings Limited, a household name that is familiar to investors in Singapore. SGX looks forward to supporting the company’s growth, as it looks to expand its retail LPG business while diversifying the Group’s businesses, by supplying and selling piped natural gas to customers in the services and manufacturing industries in Singapore.
With a market capitalisation of about $50 million, the listing of Union Gas Holdings Limited brings the total number of companies listed on Catalist to 197, with a combined market capitalisation of more than $12 billion. Union Gas Holdings Limited will also strengthen SGX’s consumer cluster, which now has a total of 151 companies, with combined market capitalisation of more than $150 billion.
Union Gas Holdings Limited opened at $0.31 today.