SGX rejects Jaya's pre-clearance plans for reverse-takeover deal
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Michelle Quah
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Singapore
THE Singapore Exchange (SGX) has slammed the door - for now - on a potential backdoor listing for Papua New Guinea finance firm Heduru Moni through a reverse takeover (RTO) deal with shell company Jaya Holdings.
The move also throws a spanner in the works of Jaya Holdings' plans to keep itself listed on SGX.
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