Raffles Education's HK unit sees mainboard-transfer application lapse

RAFFLES Education Corporation, which runs private schools in Asia, on Friday said the application for its Hong Kong-listed subsidiary, Oriental University City Holdings, to be transferred from GEM to the mainboard of the Stock Exchange of Hong Kong, has lapsed. 

GEM stands for Growth Enterprise Market, and is meant for small- and mid-sized companies to be listed in Hong Kong. 

The application was filed on Jan 5, 2018, and six months have passed since the submission, Raffles Education said.