Ipco to consolidate every 100 shares into one

INFRASTRUCTURE developer and turnkey contractor Ipco International will be undertaking a share consolidation exercise, in order to comply with the minimum trading price of 20 Singapore cents set by the Singapore Exchange.

Ipco said on Tuesday that it will be consolidating every 100 shares into one. Its shares last traded at 0.5 cent on the same day.

This comes after the exchange rejected Ipco's application to transfer its listing to the Catalist board, for which the minimum trading price rule does not apply.