SINGAPORE - Dapai International Holdings Co has been given a delisting notification by the Singapore Exchange.
The watchlisted backpack and luggage maker was informed by SGX on July 10 that it has not met listing requirements. The company or its controlling shareholder(s) must now make a reasonable exit offer to shareholders, Dapai said in an pre-market exchange filing on Tuesday (July 11).
The SGX has given the company no later than one month from July 10 to let the exchange know its exit offer proposal.
Trading in the company's securities will continue until 5.05pm on Aug 10, with trading thereafter suspended until completion of the cash exit offer.