Mi Technovation Bhd’s semiconductor materials business has received conditional eligibility from the Singapore Exchange Securities Trading Ltd (SGX-ST) for a proposed listing on the Mainboard.
The company said Mi Material, the entity housing its semiconductor materials business, received a letter dated August 25 from SGX-ST confirming its conditional eligibility to list.
The eligibility is subject to Mi Material complying with SGX-ST’s listing requirements and fulfilling a series of conditions before the proposed listing can proceed.
Mi Technovation stressed that the conditional eligibility should not be interpreted as an indication of the merits of the proposed listing, Mi Material or its subsidiaries.
The proposed listing remains subject to, among other matters, prevailing market conditions and Mi Material’s fulfilment of all the conditions imposed by SGX-ST.
The company also cautioned that there is no assurance the proposed listing will take place or that its eventual structure and details will be the same as previously announced.
Mi Technovation’s board may also decide not to proceed with the listing if it determines that doing so would not be in the interests of shareholders, even if all required regulatory approvals are obtained.
