Monday 16 Dec 2024
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KUALA LUMPUR (Sept 8): Iqzan Holding Bhd said it plans to submit an appeal to Bursa Securities on the bourse regulator’s decision to delist the company on Sept 19.

The wooden crate and pallet maker said that upon submission of the appeal and pending Bursa Securities’ decision, the company’s delisting will be deferred.

“However, Bursa Securities shall proceed to suspend the trading of the company’s securities on Sept 15,” the group added in a bourse filing on Friday.

Iqzan will have to submit an appeal by Sept 14 for it to be considered by Bursa Securities.

Its slated share suspension on Sept 15 and delisting on Sept 19 came after Bursa Securities rejected the Practice Note 17 company’s application for a further six-month extension of time to submit its regularisation plan.

Shares in Iqzan ended 1.5 sen or 50% lower at 1.5 sen on Friday, giving the company a market capitalisation of RM3.33 million.

Edited ByS Kanagaraju
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