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.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook