Citic Envirotech share trading halts after losing free float status

The company is no longer extending its exit offer beyond 17 January.

The Singapore Exchange (SGX) suspended the trading of shares of Citic Envirotech after its public float fell to less than 10%, according to an SGX filing.

Rule 723 of the Listing Manual requires companies to ensure that at least 10% of total issued shares excluding treasury shares in a class that is listed be held by the public. Otherwise, SGX may suspend trading of the class.

On the same announcement Citic Envirotech said that it will not extend its exit offer beyond 17 January, 5:30 PM. Any acceptance received after the closing date will be rejected.

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