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Gabungan AQRS defers listing
Gabungan AQRS defers listing
Posted on 27 August 2011 - 02:48pm
siew li
PETALING JAYA (Aug 27, 2011): Gabungan AQRS Bhd, enroute for a listing on the Main Market of Bursa Malaysia, has informed the Securities Commission (SC) of its plan to defer the opening of the application for its initial public offering (IPO) to a later date.
Gabungan AQRS said it has decided to postpone the launch of its prospectus in view of the volatility of global stock markets in recent weeks.
"The board of directors is also concerned with the near term uncertainties of the direction of the major stock markets in the world as a result of fears stemming from the economic scenario in the US and the Eurozone debt crisis," the construction outfit and property developer said in a statement yesterday.
CEO Alvin Ng Chun Kooi said Gabungan AQRS will re-submit its application for the registration of its prospectus to the SC at a later date when the market outlook is more conducive.
Last week, theSun had reported that Gabungan AQRS' prospectus launch, which was scheduled for Aug 23, was postponed after an accounting query from the SC.
Gabungan AQRS had in July received the SC’s approval for its listing on Bursa Malaysia and will make a public issue of 62 million new shares and an offer for sale of 30 million shares with par value of 25 sen each. The company was scheduled to be listed by next month.
Gabungan AQRS defers listing
Posted on 27 August 2011 - 02:48pm
siew li
PETALING JAYA (Aug 27, 2011): Gabungan AQRS Bhd, enroute for a listing on the Main Market of Bursa Malaysia, has informed the Securities Commission (SC) of its plan to defer the opening of the application for its initial public offering (IPO) to a later date.
Gabungan AQRS said it has decided to postpone the launch of its prospectus in view of the volatility of global stock markets in recent weeks.
"The board of directors is also concerned with the near term uncertainties of the direction of the major stock markets in the world as a result of fears stemming from the economic scenario in the US and the Eurozone debt crisis," the construction outfit and property developer said in a statement yesterday.
CEO Alvin Ng Chun Kooi said Gabungan AQRS will re-submit its application for the registration of its prospectus to the SC at a later date when the market outlook is more conducive.
Last week, theSun had reported that Gabungan AQRS' prospectus launch, which was scheduled for Aug 23, was postponed after an accounting query from the SC.
Gabungan AQRS had in July received the SC’s approval for its listing on Bursa Malaysia and will make a public issue of 62 million new shares and an offer for sale of 30 million shares with par value of 25 sen each. The company was scheduled to be listed by next month.