AIM-listed property firm JSM Indochina Ltd
on Thursday said it planned to apply for trading on the London Stock Exchange's
main market.
JSM, which invests in Vietnamese and
Cambodian real estate, said it expected the move to the main board of the LSE
would be concluded before year end.
So far, six AIM-listed firms have
transferred to LSE's main market. In 2008, 11 companies had moved to the main
market.
JSM's move to graduate to the main market
comes at a time when a growing band of small companies are planning to delist
from the junior market as many see the cost of staying listed outweighs any
potential benefit.
JSM, whose investment portfolio comprises
five projects in
Cambodia
and two in
Vietnam,
was listed on AIM in July 2007.
For the six months ended June 30, the
company's net loss was $9 million, compared with net profit of $18 million in
the year-ago period.