Amcorp Global to resume trading on Oct 21

Published Tue, Oct 20, 2020 · 01:20 PM

AMCORP Global, formerly known as Tee Land, has been given the nod by the Singapore Exchange regulators for the lifting of the suspension on trading in the company's shares.

The developer's shares will resume trading on Oct 21, on the back of the restoration of the free float.

As at Oct 20, 1,091 public shareholders were holding about 55.3 million shares, representing 12.37 per cent of the total issued and fully paid-up share capital of the company. This complies with the requirement that at least 10 per cent of the total shares are held by at least 500 shareholders who are members of the public.

Previously, the percentage of shares owned, controlled or agreed to be acquired by offeror Amcorp Group exceeded the minimum in public's hand to qualify as a free float.

In February, mainboard-listed Tee International completed the sale of its 63.3 per cent stake in Tee Land to a unit of Malaysia's Amcorp Group for S$50.6 million.

Amcorp Global's counter been suspended and last traded at 17.9 Singapore cents on March 18.