IPO is the beginning and delisting is the ending.
Today marks a special day for all shareholder of a SGX listed company, ATM (Automated Touchstone Machines Limited).
ATM is to be delisted today with the last traded price of 10.5 cents. There is no exist offer and the company will thereafter continue to exist as an unlisted public limited company.
Since the company has no business, no asset and in net debt position, why dispose the subsidiary TISS which is their ‘only asset’ for $500,000? This will just left the company with liability only with no asset.
Who will RTO a delisted company?
This left no room for hope. Nothing, really nothing!
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