Starburst gets regulatory nod to delist
STARBURST 40D : 40D 0% Holdings has obtained the needed regulatory approval to delist, following its free float dipping below the required 10 per cent.
The firearms training facility manager stated in a filing on Friday (Mar 11) that the Singapore Exchange (SGX) has no objection to its proposed delisting from the Catalist board.
This came about as its acquirer Nordic Flow Control has managed to take over more than 90 per cent of shares in Starburst, resulting in the shares held by the public to be lower than the regulatory threshold of 10 per cent.
Also, SGX has noted Nordic's intention to exercise its right to compulsorily acquire the remaining shares that it does not already own after making the pre-conditional voluntary offer last November at S$0.0238 per share.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution