SinoCloud Group (SGX:LYY) said trading of its shares will be suspended from April 1 after its continuing sponsor, ZICO Capital, ceases its role on March 29, according to a same-day filing on the Singapore Exchange.
The company has yet to appoint a new sponsor but said a shortlisted firm is conducting due diligence. Under Singapore Exchange's Catalist rules, a company without a continuing sponsor for more than three months may be delisted.
ZICO Capital said it was unaware of any unreported non-compliance by SinoCloud as of its exit.
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