Serial Achieva Wins In-Principle Nod for Listing of New Subscription Shares

Axington Inc. ( (SG:XHV) ) has issued an announcement.

Serial Achieva Limited has received approval-in-principle from the Singapore Exchange for the listing and quotation of 21,004,873 new ordinary shares to be issued to UFCT Technology Co., Limited under a previously announced subscription agreement. The approval-in-principle confirms that the proposed subscription shares may be listed subject to compliance with listing requirements, but does not attest to the merits of the transaction or the company, and investors are cautioned that there is no certainty the subscription will be completed, with further updates to be provided in subsequent announcements.

The company’s board highlighted that the exchange’s green light for the listing and quotation notice is a procedural milestone in its planned equity fundraising exercise. However, both shareholders and potential investors are urged to trade carefully in the company’s shares, to monitor future company announcements for material developments, and to seek professional advice where necessary given the possibility of changes to, or non-completion of, the proposed subscription.