AND also, the actions, a company must take in the event, its public shareholding spread falls below the 25 per cent mark.
PARAGRAPH 8.02(3) of the Listing Requirements provides that a listed issuer must announce to the exchange that it does not comply with the Required Public Spread immediately upon it becoming aware of this.
THE question, Malaysia should be asking itself is why has Hong Seng Consolidated Bhd been silent, after breaching the market liquidity rules.
A quick check VIEW : on the yahoo finance platform, reveals, that the number free float shares in Hong Seng Consolidated is estimated to be around 667.42 million shares.
CONSIDERING, Hong Seng Consolidated has a share capital spread of 5.11 billion shares, this would place Hong Seng Capital's free float spread at 13.05 per cent well below the acceptable level of 25 per cent or even the lower bandwidth of 15 per cent.
HONG Seng Consolidated's silence and Bursa Malaysia's inaction is tellingly hypocritical.
