Singapore Medical Group's potential share transaction with third party to be dropped

SINGAPORE Medical Group (SMG) announced that a potential transaction involving its company's shares will not be explored further, according to an exchange filing on Thursday.

In December last year, the group said that it was in preliminary discussions with a third party regarding a transaction involving SMG's shares. This was shared in response to a query from its sponsor CIMB Bank Singapore regarding "unusual price movements" and the significant volume of trading in the shares.

In the filing, SMG said that it remains open to exploring various avenues to improve shareholder value, including corporate actions.

As at 9.35am on Thursday, SMG shares were trading at 31 Singapore cents, down 3.5 cents or 10.1 per cent.