Telecoms firm Global Tech requests trading halt on change in control of company

The Singapore Exchange building in the Central Business District.
The Singapore Exchange building in the Central Business District. PHOTO: LIM YAOHUI FOR THE STRAITS TIMES

SINGAPORE - Telecommunications firm Global Tech (Holdings) asked for a trading halt on Dec 14, with effect from 9am.

The firm said in a filing to the Singapore Exchange on Monday (Dec 14) that this was "pending the release of an announcement of a transaction regarding a change in control of the company".

The firm has a primary listing on the Hong Kong Stock Exchange, and a secondary listing on SGX, and it has requested halts on both bourses.

In November, the firm announced that controlling shareholder Optimum Pace International, was approached by an independent third party.

The firms discussed a potential purchase of the existing shares of Global Tech, "which, if materialised, may lead to a change in control of the company".

Optimum Pace International holds 56.96 per cent of Global Tech - which through its subsidiaries, sells and distributes cellular handsets and related accessories in Hong Kong and mainland China.

The firm also provides repair services of telecommunication products.

rachaelb@sph.com.sg