Aspen to move listing to SGX mainboard

CATALIST-LISTED Malaysian property developer and soon-to-be glove maker Aspen (Group) Holdings intends to transfer its listing to the mainboard, to boost visibility in the market to help future fundraising efforts.

This will allow it to better tap into capital markets (both equity and debt) to maximise the group's growth potential, it said.

However, the transfer will be subjected to an in-principle approval from the Singapore Exchange (SGX), the company meeting the minimum shareholding requirements for mainboard applicants, as well as shareholder approval.

The company has since submitted an application to SGX, and will update shareholders as and when there are material developments.

Shares of Aspen closed at S$0.22 on Monday, down S$0.01 or 4.4 per cent.