TalkMed receives SGX approval to transfer to mainboard

TECHNOLOGY specialist TalkMed Group 5G3 on Monday (Mar 28) said it received in-principle approval from the Singapore Exchange (SGX) on Mar 25 for its transfer to the bourse's mainboard.

The company will be seeking shareholder approval for the proposed transfer at an extraordinary general meeting which will be held at a date to be confirmed.

TalkMed submitted an application for the transfer on Feb 25. At the time, the company said a mainboard listing will enhance the long-term value for its shareholders, as public investors tend to "accord a premium" to mainboard-listed firms as compared to companies on the Catalist board.

A mainboard listing will also provide the company with access to a wider and more diverse investor base, as certain institutional and international investors may be less inclined to invest in companies listed on the Catalist board, the company noted, among other reasons.

Shares of TalkMed closed S$0.015 or 3.9 per cent higher on Monday at S$0.40, after the announcement.