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SGX rejects Jaya's pre-clearance plans for reverse-takeover deal

Michelle Quah

Michelle Quah

Published Tue, Sep 5, 2017 · 09:50 PM
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Singapore

THE Singapore Exchange (SGX) has slammed the door - for now - on a potential backdoor listing for Papua New Guinea finance firm Heduru Moni through a reverse takeover (RTO) deal with shell company Jaya Holdings.

The move also throws a spanner in the works of Jaya Holdings' plans to keep itself listed on SGX.

In its announcement on Tuesday, Jaya Holdings said that pre-clearance submissions and representations made by its financial adv…

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