SGX rejects 8Telecom's bid to issue new shares

Singapore

8TELECOM International Holdings has not been given the green light by the Singapore Exchange (SGX) to issue new shares, including those that it had intended as payment for partial acquisitions of China Commodity Market and China Commodity Centre.

The company, in a regulatory filing on Sunday night, announced that it had received a letter from SGX on Feb 8 stating that its applications to issue new shares for various purpos…