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SGX rejects A-Sonic Aerospace's warrant issue

Thursday, July 6, 2017 - 22:57

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A-SONIC Aerospace said on Thursday that Singapore Exchange (SGX) has rejected its proposed warrant issue.

A-SONIC Aerospace said on Thursday that Singapore Exchange (SGX) has rejected its proposed warrant issue.

The regulator objected, given that the proposed bonus warrants issue is akin to a bonus issue - the exercise price of one warrant into one share at S$0.0002 is at a steep discount of 99.9 per cent to the last transacted price of S$0.196 per share on June 1, 2017, a day before the announcement of the proposed bonus warrants issue was made.

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