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Thursday, September 10, 2009

JSM Indochina plans to move to LSE's main mkt

Sept 10 (Reuters) - 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.

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