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TA Corporation Ltd. ( (SG:PA3) ) just unveiled an update.
TA Corporation has received approval in-principle from SGX RegCo for the listing and quotation of new ordinary shares to be issued upon the mandatory conversion of two tranches of convertible notes. The TAR Convertible Notes of S$330,000 and TAC Convertible Notes of S$5,000,000, both tied to earlier settlement and debt restructuring agreements, will convert into shares on the securities trading resumption date, marking a key step towards restoring trading in the company’s securities and completing its broader debt restructuring and recapitalisation efforts.
This regulatory clearance follows the company’s completion of its Debt Restructuring Plan and its application under SGX Listing Rules to resume trading. The move is expected to strengthen the company’s capital structure, align creditor interests with equity holders, and potentially improve liquidity and market confidence once trading in its securities resumes.
More about TA Corporation Ltd.
TA Corporation Ltd. is a Singapore-incorporated company listed on the Mainboard of the Singapore Exchange, operating through a group structure that includes various subsidiaries. The group is engaged in corporate and capital markets activities that involve debt instruments and equity securities listed and traded on SGX.
Technical Sentiment Signal: Sell
Current Market Cap: S$37.82M
For an in-depth examination of PA3 stock, go to TipRanks’ Overview page.