Nearly 600 investors sell off FOCUS POINT shares

Focus Point says 564 subscribers of its shares, collectively holding 14.62 million, had exercised the exit option it offered earlier this month

Close to 600 investors sold off Focus Point Holdings Bhd shares before its rescheduled debut on Bursa Malaysia on August 23.

In a filing to Bursa yesterday, Focus Point said 564 subscribers of its shares, collectively holding 14.62 million, had exercised the exit option it offered earlier this month.

The eyecare retailer said the stock exchange had waived the need for it to have a public spread of at least 200 public shareholders with more than 100 shares each.

Shares underwritten by the promoters of Focus Point, pursuant to the exit option, were also exempted of the usual moratorium.

These shares, however, must be sold in the open market by February 23 next year.

Focus Point had initially scheduled for listing on the ACE Market of Bursa Malaysia on July 28 but postponed it just an hour before the opening bell following an anonymous complaint. The company had since refuted all of the allegations in the complaint.

Focus Point says 564 subscribers of its shares, collectively holding 14.62 million, had exercised the exit option it offered earlier this month


Close to 600 investors sold off Focus Point Holdings Bhd shares before its rescheduled debut on Bursa Malaysia on August 23.

In a filing to Bursa yesterday, Focus Point said 564 subscribers of its shares, collectively holding 14.62 million, had exercised the exit option it offered earlier this month.

The eyecare retailer said the stock exchange had waived the need for it to have a public spread of at least 200 public shareholders with more than 100 shares each.

Shares underwritten by the promoters of Focus Point, pursuant to the exit option, were also exempted of the usual moratorium.

These shares, however, must be sold in the open market by February 23 next year.

Focus Point had initially scheduled for listing on the ACE Market of Bursa Malaysia on July 28 but postponed it just an hour before the opening bell following an anonymous complaint. The company had since refuted all of the allegations in the complaint.


- btimes.com.my