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Shareholders of Q & M associate vote to delist Aidite
SHAREHOLDERS of Aidite (Qinhuangdao) Technology voted on Monday to delist the Q & M Dental Group (Singapore) associate from a Chinese stock exchange, Singapore-listed Q & M's board said the next day.
Aidite, a maker of dental supplies, was spun off in 2016 for a listing on China's National Equities Exchange and Quotations, also known as the New Third Board.
It is now applying to exit the New Third Board, citing a lack of trading in its shares and and the absence of equity fund-raising since its listing.
"Taking into account its development strategy, Aidite wishes to further strengthen its foundation and seek more opportunities in the established capital markets in the future," the Q & M board added.
The company told the Singapore Exchange in September that the proposed delisting was not part of a restructuring exercise, in response to queries from the bourse regulator.
Q & M shed half a Singapore cent, or 1.01 per cent, to S$0.49, before the announcement.