SGX RegCo has lifted the moratorium against UOB-Kay Hian (SGX:U10), following the firm's remedial actions to enhance its policies and procedures regarding initial public offerings and reverse takeovers, according to a Thursday filing on the Singapore Exchange.
The moratorium was imposed on Dec. 27, 2022, prohibiting UOB-Kay Hian from acting as an issue manager or full sponsor for SGX Mainboard and Catalist IPO and reverse-takeover submissions, with exceptions for agreements established before Aug. 31, 2022, according to the filing.
SGX RegCo said UOB-Kay Hian has strengthened oversight within its corporate finance department, addressing the recommendations and conditions set by the regulator.
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