Earlier in March 2021, Fabchem disposed of its subsidiary Yinguang Technology. In its sale and purchase agreement with Lincotrade, Fabchem says will cease to have any operating business and is likely to be deemed as a cash company
Interior fitting out service provider Lincotrade and Associates has started trading on the SGX Catalist on Aug 8, following a $25 million reverse takeover by explosives maker Fabchem China.
In April 2021, Fabchem announced the takeover, issuing over 113.6 million shares at 22 cents per share to Lincotrade. This is more than double the 46.8 million shares that the company had before the takeover.
