Sias asks SGX to get Ezra to seek IFA guidance for restructuring

Singapore

THE Securities Investors Association Singapore (Sias) has proposed that the Singapore Exchange mandate Ezra Holdings to appoint an independent financial adviser (IFA) to advise shareholders and creditors on its restructuring.

On March 1, Ezra said it plans to transfer all of its existing assets to a creditor trust and issue new shares to its creditors and bond holders amounting to 4 per cent of the enlarged share capital. A new investor, financial consultancy firm Asia Fund Space (HK), will also take up 92 per cent of the enlarged capital for S$1 million,…