Action Asia Limited, which is in the process of being taken private, has announced that its public float has dipped below 10% and under listing rules, the Singapore Exchange is likely to suspend trading of its shares.
As of July 30 2015, the controlling shareholders of the electronics manufacturer hold nearly 359 million shares, or some 90.19% of the company.
The offer price of 19 cents per share was first tabled back in Feb 27. It was last traded at 11.2 cents before the offer was made.
“The Company is unlikely to require access to the Singapore capital markets in the foreseeable future to finance its operations and accordingly, it may not be necessary for the Company to remain listed on the SGX-ST,” the company said.
The closing date of the offer is Aug 14.
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As of July 30 2015, the controlling shareholders of the electronics manufacturer hold nearly 359 million shares, or some 90.19% of the company.
The offer price of 19 cents per share was first tabled back in Feb 27. It was last traded at 11.2 cents before the offer was made.
“The Company is unlikely to require access to the Singapore capital markets in the foreseeable future to finance its operations and accordingly, it may not be necessary for the Company to remain listed on the SGX-ST,” the company said.
The closing date of the offer is Aug 14.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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