Atlantic Navigation suspends trading after free float falls below 10%

Singapore

ATLANTIC Navigation Holdings suspended trading in its shares on Friday, after a share subscription completed on Dec 11 caused the percentage of its publicly held shares to fall below 10 per cent.

Atlantic Navigation - which is an investment holding company that provides ship repair, fabrication and other marine services - saw its percentage of shares in free float fall to 8.43 per cent after it issued about 263 million shares to Saeed Investment to raise US$26 million in proceeds.