China Bearing (Singapore) to transfer to Catalist from June 29

CASH company China Bearing (Singapore) will transfer to the Catalist board from the mainboard effective from June 29, it announced in a Singapore Exchange filing on Friday night.

It has appointed ZICO Capital Pte Ltd to act as its continuing sponsor.

Earlier in the week, it had announced a books closure date at 5 pm on July 3 for its proposed share consolidation.

Every 10 existing shares registered in the name of each shareholder as at the books closure date will be consolidated to constitute one consolidated share, with each consolidated share to rank pari passu with each other.

The proposed share consolidation is expected to be completed on July 4 at 9 am.

Currently, the company's shares are suspended and will remain so until further notice.