SGX rejects A-Sonic Aerospace's warrant issue

A-SONIC Aerospace said on Thursday that Singapore Exchange (SGX) has rejected its proposed warrant issue.

The regulator objected, given that the proposed bonus warrants issue is akin to a bonus issue - the exercise price of one warrant into one share at S$0.0002 is at a steep discount of 99.9 per cent to the last transacted price of S$0.196 per share on June 1, 2017, a day before the announcement of the proposed bonus warrants issue was made.