Z-Obee Holdings, the China-based designer and manufacturer of mobile phones, has been informed by sponsor SinoPac Securities (Asia) that the final review process in its application for a dual-listing on the Mainboard of the Stock Exchange of Hong Kong has been suspended.
“Due to concerns by Hong Kong regulators over the recent price fluctuations of the shares of companies listed on the SEHK by way of introduction, SEHK has temporarily suspended such listings on the SEHK while the Hong Kong regulators identify ways to address the issue,” says Z-Obee in the SGX statement.
As Z-Obee feels the suspension is only temporarily, the special general meeting of the company to be held on Dec 30 will continue as scheduled.
However, due to the temporary suspension of the HK listing, the application for the transfer of shares from the share register of the company in Bermuda to the share register of the company in Hong Kong will also be halted for the moment.
Shareholders who have previously applied for the transfer of their shares to the share register of Hong Kong can contact the share transfer agent of the company in Singapore, Tricor Barbinder Share Registration Services, to cancel the transfer application.
Sponsor SinoPac Securities (Asia) will further have further discussions with SEHK to facilitate the application for the Hong Kong listing.
