KUALA LUMPUR: LYC Healthcare Bhd has dropped the plan to list its subsidiary on the Singapore Exchange, less than three months after it filed the preliminary offer document with the exchange.
LYC told shareholders on Wednesday that the proposed listing of LYC Medicare Singapore Ltd on the Catalist Board will be withdrawn, in view of the “prevailing market conditions in the Singapore equity market”.
However, following the decision, LYC is considering the possibility of listing the subsidiary in other exchanges, subject to evaluation on the listing suitability and structure by advisers to be appointed.
“The withdrawal is not expected to have any material impact on the consolidated earnings per share and net asset per share of the company for the financial year ended March 31, 2025,” it said in a Bursa Malaysia filing.