MoneyMax to start Main Board trading on 6 May

The move follows the company’s completion of a placement of 53 million new shares.

MoneyMax Financial Services Ltd. will transfer its listing from the Catalist board to the Main Board of the Singapore Exchange on 6 May, after meeting all listing conditions.

Trading of the company’s shares on the Main Board will commence at 9:00 a.m. on the effective date, according to a bourse listing dated 30 April.

The move follows a series of steps, including in-principle approval from SGX, shareholder approval at an extraordinary general meeting, and the completion of a placement of 53 million new shares.

The placement raised about $44.3m, with net proceeds earmarked for working capital, including expansion of its pawnbroking portfolio and retail inventory.

United Overseas Bank Limited will cease acting as the company’s sponsor upon the transfer’s effective date, in line with Main Board rules.

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