Argonaut opens doors in Hong Kong

Perth-based stockbroking and investment house Argonaut is expanding its reach to alternative capital markerts in Asia, with the launch of its first office in Hong Kong.

The company said it was aiming to triple the size of its Hong Kong outpost within three years.

Argonaut chief executive Eddie Rigg said he expected Hong Kong to emerge as a major source of capital for the resources sector in Western Australia over the medium-term.

“The importance of Hong Kong as a source of capital, along with the expected increase in the number of resources companies listed or dual-listed on the Hong Kong Stock Exchange in the longer term, were significant in our decision to expand into the region; we want to be at the forefront of these trends,” Mr Rigg said.

“The current investment environment is difficult, however, in our view the medium to long-term macro drivers behind the super cycle in commodities remain intact.

“The urbanisation of China, India and other emerging economies is a trend that is not likely to be reversed.”

Mr Rigg said Argonaut’s long-term growth strategy was centred around having the most comprehensive research coverage of metals, mining and energy companies listed on the Australian, Hong Kong and Singapore Stock Exchanges.