Man Wah re-listed in HK in April this year.
IN 2007, there was Want Want Holdings, a food and beverage group which delisted from the Singapore bourse, and relisted in Hong Kong.

It is now trading at a trailing PE of about 36.6 there, compared with 10 to 15 times in Singapore.

In recent times, there was Man Wah Holdings, which delisted from Singapore last year and re-listed in HK this year – and has had enjoyed a jump in its valuation to a PE of 11x.

Coming up soon: Sihuan Pharmaceutical, China's largest cardio-cerebral vascular drugmaker, which delisted from Singapore last December.

Its exit offer had valued the company at about S$458.3 million (US$318 million).

Its new valuation in a HK initial public offering comes to at least HK19.4 billion (or about S$3.8 billion) based on the low end of the HK$3.88-HK$4.60 per share offer price.

That values the shares at 2011 price to earnings multiple of 22.5 times to 26.7 times, according to Reuters.

Dr. Che Fengsheng - Chairman and CEO of Sihuan Pharmaceutical
Sihuan is selling 1.25 billion new shares, or 25 percent of its enlarged share capital, to raise up to US$741 million by, according to Reuters.

Sihuan will kick off a formal marketing roadshow on Oct 12 and is set for a trading debut on Oct 28.

Sihuan has already signed up six cornerstone investors, including billionaire investor George Soros, China Life Insurance (Overseas), CCB International, Yun Feng Fund, which set up by Alibaba's (1688.HK) Chairman Jack Ma, for a combined $190 million worth of shares, a source close to the deal said.

Investor appetite for Chinese medical stocks has grown as Beijing promises to create a national healthcare safety net and as the sector's relative immunity to economic cycles offers shelter in times of turmoil.

Sihuan offers products in China covering several major medical therapeutic areas, namely cardio-cerebral vascular, anti-infective, metabolic, oncological and nervous system, according to the company's website.

The company markets its products through a network covering about 10,000 hospitals and medical institutions across China.

While they are not delisting to go elsewhere, a number of Singapore-listed companies are headed for dual listings in HK or Taiwan, including:

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