A-Sonic Aerospace has submitted its application to exit the SGX-ST watch list after its average daily market capitalisation (cap) exceeded the required $40 million.
Under the SGX-ST listing rules, any company that has not achieved the requisite average daily market capitalisation of $40 million over the last six months will be under SGX-ST’s watch list.
Over the last six months since Nov 12, 2021, to date, the company’s average daily market cap stood at $40.004 million.
Based on the last done market closing price of 70 cents per share on May 12, A-Sonic Aerospace’s market capitalisation stood at $49.792 million.
In March 2021, the company was issued a query by the Singapore Exchange Regulation (SGX RegCo) on its trading activity after its shares jumped some 20%.
The company had previously applied to seek SGX-ST’s approval on a further extension to fulfil the requirements of exiting the watch list.
See also: A-Sonic Aerospace triggers SGX query on trading activity after share price jumps 20%
In accordance with the SGX-ST listing rules, it was mandatory to apply for the extension of the cure period to exit the watch list, at least one month before the expiry date of June 4.
