Singapore Exchange lists Nordic Group

SGX opens door to its 34th maritime & offshore listed company with market capitalisation of S$80mln.

Singapore Exchange (SGX) on Wednesday announced the listing of Singapore based Nordic Group Limited (“Nordic Group”) on the Mainboard, under the ticker symbol “Nordic”.

Nordic Group is a provider of automated and integrated control and management systems to the marine and offshore oil and gas industries. Its Precision Engineering division designs and builds tooling systems, and provides turnkey production solutions to customers in the marine, oil and gas, aerospace, medical and electronic manufacturing services industries, according to an SGX report.

Headquartered in Singapore, Nordic Group has two production facilities in Suzhou in China, giving them a strong competitive exposure and advantage to China.

“We are extremely pleased to be listing Nordic on the SGX Mainboard today (Nov. 10). We firmly believe that this major milestone will further strengthen our position as a leading automation systems integration solutions provider for our customers in mainly the marine and offshore oil and gas industries. Today’s successful listing would not have been possible if not for the hard work and commitment of all the professional parties, advisors, business associates, customers, suppliers and employees who had in one way or another contributed to our success,” said Mr Chang Yeh Hong, Chairman and CEO of Nordic Group Limited.

“We welcome the listing of Nordic Group, adding to the investment choice of companies in our maritime and offshore sector. The location of its businesses also adds to the geographical reach of the sector, and we are pleased to provide Nordic Group the capital raising springboard for growing its business in Singapore and beyond,” said Mr Lawrence Wong, Executive Vice President and Head of Listings at Singapore Exchange.

Nordic Group, with a market capitalisation of S$80 million based on its IPO price, brings the total number of maritime & offshore companies listed on Singapore Exchange to 34 with a combined market capitalisation of S$55 billion.