The company failed to restore its public float.
The Singapore Exchange Regulation (SGX RegCo) has mandated the delisting of Halcyon Agri Corporation.
In its delisting notice, SGX RegCo said it had given Halcyon Agri "sufficient time" to comply with Listing Rule 723, but the company failed to comply.
On 24 April 2023, the company's public float fell below 10%. It failed to restore its free float even after 13 months of extension from the regulator.
Given the delisting mandate, Halcyon Agri Corporation or its controlling shareholders must provide shareholders with a "fair and reasonable exit offer."
In a bourse filing, the company said it has "duly noted" the regulator's directives and is "considering the necessary actions. "