China Haida fails to get SGX nod for S$3.3m rights issue

Singapore

MAINBOARD-LISTED China Haida is scrapping its planned rights issue that could have raised net proceeds of about S$3.3 million, after failing to get the green light from the Singapore Exchange (SGX).

The SGX informed watch-listed China Haida on Monday that it is unable to approve the rights issue, due to concerns raised in the "trade with caution" notice the bourse issued last week.