SINGAPORE (Dec 5): SunMoon Food Company is being placed on the SGX watchlist with effect from today under the minimum trading price (MTP) entry criterion, which requires a volume-weighted average price of less than 20 cents and an average daily market capitalisation of less than $40 million over the last six months.
The group will be delisted or face a trading suspension with a view to delist, should it fail to take active steps to meet these requirements within the next 36 months.
Shares in SunMoon have fallen 44.44% to a low of 4.5 cents in the year to date (YTD) with a market cap of $33.83 million.
The group last reported a y-o-y widening of its 2Q18 losses to $2.6 million despite higher revenue, due to higher cost of sales.
In a filing to the SGX on Tuesday evening, SunMoon says its business shall continue as usual, as will the trading of the company’s shares unless a trading halt or suspension is effected.
Shares in the group closed at 4.7 cents on Tuesday.
