Mary Chia shares to resume trading on Jan 29

SLIMMING services chain Mary Chia Holdings said that its shares will resume trading on Monday, Jan 29 when the market opens.

In a statement to the Singapore Exchange (SGX) late Friday night, Mary Chia said that controlling shareholder Suki Sushi was notified of the placement of 9.2 million shares to new shareholders.

Mary Chia also stated that public shareholders currently hold some 20.35 million shares in the company, representing around 12.45 per cent of its total issued share capital.

As a result, the public float is now above the 10 per cent minimum required to remain listed on the SGX Catalist.

The company said on Jan 24 that it had been granted an extension until March 9 to raise its public float to at least 10 per cent, and keep its listing status.

Trading of the company's shares has been suspended since Oct 9, 2017 following a mandatory unconditional cash offer by Suki Sushi.

The offer for Mary Chia was triggered after Suki Sushi entered into a deal to acquire 60.98 per cent of the firm from founder Mary Chia for S$11 million.

Suki Sushi currently holds a 93.18 per cent stake in the firm.