KUALA LUMPUR (Dec 27): Techna-X Bhd has proposed a backdoor listing of its 50%-owned Chinese capacitor technology company via Singapore-listed F&B group Chaswood Resources Holdings Ltd. The exercise values the capacitor technology company, HK Aerospace Beidou New Technology Co Ltd (HKAB), at US$500 million. Should the backdoor listing plan go through, Techna-X and the parties acting in concert will propose to waive the obligation to undertake a mandatory general offer for the remaining Chaswood shares. They will also be subject to a six-month moratorium from trading the Chaswood shares. Shares of Techna-X settled unchanged at 8 sen on Monday (Dec 27), giving the group a market capitalisation of RM162.55 million.

Source: The Edge Markets December 28, 2021 02:28 UTC