SINGAPORE – Thomson Medical Group public float has dipped to 9.98 per cent, and the company intends to apply to the Singapore Exchange (SGX) for a period of three months for it to restore the public float to 10 per cent.
In its regulatory filing on Tuesday, the company said that an internal verification carried out during the day found the percentage of shares held by public shareholders – amounting to more than 8,000 – to have gone below 10 per cent.
The SGX may grant an issuer a period of three months to raise the percentage of securities in public hands to 10 per cent, after which the issuer may be directed to delist and provide an exit offer deemed fair and reasonable by an independent financial adviser.
The counter was up 1.7 per cent to six cents at market close on Tuesday, before this announcement. THE BUSINESS TIMES
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