SGX rejects Thomson Medical’s application for further extension to restore public float

THE Singapore Exchange (SGX) has rejected Thomson Medical’s latest application to restore its public float, the company said on Wednesday (Jan 10).

Thomson Medical had applied to the SGX on Jan 2, 2024, for a further extension of time to restore its public float.

This is its third application to SGX since the company’s public float dipped under 10 per cent in September last year.

SGX first granted Thomson Medical three months until Dec 10, 2023 to restore its public float while allowing its trading of shares to continue in the interim; it later granted the company a further one-month period till Jan 10, 2024, to explore options to restore the public float.

Following the rejection of its latest application, Thomson Medical said that trading of its shares on the mainboard of SGX will continue in the meantime, as it continues to explore possible options to restore its public float as soon as possible. It will also keep shareholders updated on the restoration of the public float.

Thomson Medical shares closed at S$0.058, down S$0.001 or 1.7 per cent on Wednesday, before the announcement.