FINANCIALLY distressed companies undergoing restructuring may dispose of significant assets without the approval of shareholders and have their trading suspension waived under “exceptional circumstances”.
That’s if proposed changes by the Singapore bourse’s regulatory arm are implemented.
The proposals by Singapore Exchange Regulation (SGX RegCo) are part of efforts to “smoothen and speed up” the restructuring of financially distressed companies, said Tan Boon Gin, the regulator’s chief executive officer.
A consultation paper detailing the proposed changes will be available on SGX RegCo’s website and open for public consultation from Friday (Feb 23) to Mar 22.
Speaking at a media…
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