Should Hu An Cable be allowed to remain listed?

PITY small investors left holding the bag when public-listed companies die. Apart from suffering financial losses, they sometimes spend years holding out for unlikely turnarounds and rescues.

Earlier this month, a group of small investors canvassed regulators and the media to support the continued listing of Hu An Cable Holdings, a mainboard-listed company that suspended trading of its shares in December 2018, and that only managed to hold its FY2015 annual general meeting one month ago, on June 30.

In a letter dated May 5, 2021, Singapore Exchange Regulation (SGX RegCo) told Hu An that it was in breach of a number of listing rules, and laid out several conditions for the company to remain listed. Among these conditions was that Hu An enter into a definitive agreement for the acquisition of a business that satisfies the requirements for a new listing by June 30, 2021.