China-based Bio-Treat Technology Ltd., whose initial public offering application hit a snag in November last year, has lodged its preliminary prospectus as part of its plans to list its shares on the main board of the Singapore Exchange.

Hong Leong Finance Ltd. is the lead manager for the IPO, while UOB Kay Hian Pvt Ltd. will be the underwriter and placement agent, the Chinese waste and wastewater treatment company said in a statement late Tuesday.

Bio-Treat said its net profit doubled to 159.4 million yuan for the financial year ended June 30, 2003, from 79.5 million yuan the previous year, as did its revenue to 570.1 million yuan, from 272.4 million yuan a year ago.

Bio-Treat Executive Chairman Wing Hak Man said the company is well positioned to tap on the potential opportunities arising from the environmental protection industry in China.

"The profile and access to capital that comes with an SGX listing would enhance our ability to capitalize on these opportunities." he added.

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