BRC Asia to resume trading of shares from Dec 1 after restoring free float

SINGAPORE (Nov 30): BRC Asia, the steel prefabrication firm, will resume trading of its shares with effect from 9am on Dec 1.

Trading in its shares had been suspended on Oct 31 after a takeover bid by Esteel Enterprise ended with Esteel holding a 95.83% in the firm.

To restore the 10% free float required under the listing rules of the Singapore Exchange, Esteel subsequently disposed a total of 12.9 million shares or 6.9% of its issued share capital to six independent and unrelated buyers at 95 cents each.

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