SGX rule requires at lease 20% are held in open marketif i am not wrong
sorry, should be 10%
Free Float
723 An issuer must ensure that at least 10% of equity securities (excluding preference shares
and convertible equity securities) in a class that is listed is at all times held by the public.
724 If the percentage of securities held in public hands falls below 10%: -
(1) The issuer must, as soon as practicable, announce that fact; and
(2) The Exchange may suspend trading of the class, or all the securities of the issuer.
725 The Exchange may allow the issuer a period of 3 months, or such longer period as the
Exchange may agree, to raise the percentage of securities in public hands to at least 10%.
The issuer may be delisted if it fails to restore the percentage of securities in public hands
to at least 10% after the period.
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http://info.sgx.com/SGXRuleb.nsf/VwCPForm_LISTING_MANUAL_Download/LM%20Chapter%2007%20(060901).pdf/$File/LM%20Chapter%2007%20(060901).pdf
723 An issuer must ensure that at least 10% of equity securities (excluding preference shares
and convertible equity securities) in a class that is listed is at all times held by the public.
724 If the percentage of securities held in public hands falls below 10%: -
(1) The issuer must, as soon as practicable, announce that fact; and
(2) The Exchange may suspend trading of the class, or all the securities of the issuer.
725 The Exchange may allow the issuer a period of 3 months, or such longer period as the
Exchange may agree, to raise the percentage of securities in public hands to at least 10%.
The issuer may be delisted if it fails to restore the percentage of securities in public hands
to at least 10% after the period.
----
http://info.sgx.com/SGXRuleb.nsf/VwCPForm_LISTING_MANUAL_Download/LM%20Chapter%2007%20(060901).pdf/$File/LM%20Chapter%2007%20(060901).pdf
Huasing Association 1999 - 2013