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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has announced that it has received approval from regulatory authorities to move its share listing from the “Growth Enterprise Market” (or GEM) to the HKEX Main Board.
KVB shares will begin trading on the HKEX Main Board as of next Friday, December 15.
Shares of KVB more than doubled in late August after the company announced that it had applied for the move, on hopes that the move would enhance the corporate profile of the company and provide increased visibility and recognition of the KVB Group. The KVB Board also expects that the Main Board trading platform will enhance trading liquidity of the shares as well as the fundraising capability of the KVB Group.
Last month KVB reported record quarterly revenues for Q3-2017 of HK$181.5 million (USD $23 million), up 38% from Q2’s HK$131.5 million. That also easily topped KVB’s previous best ever quarter, Q2-2015, in which KVB brought in HK$157.3 million.
The full announcement by KVB on the share listing move can be seen here (pdf).