Asti Holdings to be delisted
WATCH-LISTED semiconductor manufacturing services company Asti Holdings : 575 0% will be delisted from the Singapore bourse as it has failed to meet requirements for exiting the watch list, the company said in a bourse filing on Monday (Jun 6).
Asti has been placed on the watch list since Jun 6, 2019.
SGX’s financial exit criteria indicate that a firm may be removed from the watch list if it records consolidated pre-tax profit for the most recently completed financial year, and posts an average daily market capitalisation of at least S$40 million over the last 6 months.
Asti, however, logged pre-tax losses of S$16.4 million for FY2021, based on unaudited financial statements. It recorded S$252,000 in pre-tax losses for the financial year ended Dec 31, 2020.
The company’s average market capitalisation over the 6 months ended Apr 29, 2022 is approximately S$18.2 million.
As such, the company’s securities will continue to be traded until 5.16 pm on Jul 4, and trading will remain suspended from Jul 5, until the completion of its exit offer to shareholders.
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Asti shares ended up 5.9 per cent or S$0.001 at S$0.018 before the announcement.
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