“This will allow the company to better tap into capital markets (both equity and debt) to maximise the group’s growth potential,” the company adds.
The proposed transfer is subject to the in-principle approval of the Singapore Exchange; meeting the minimum shareholding spread requirements applicable to Mainboard listing applicants and also approval by shareholders at an EGM to be called.
Aspen shares closed Oct 26 at 22 cents, down a cent, or 4.35%.
At this level, the company has a market capitalisation of $216.3 million.
See also: GKE renews lease of property with JTC, to deploy funds raised from recent placement
See also: Aspen to build glove making plant with bigger capacity of 1.5 billion instead of 1.1 billion units
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