Yujin aborts delisting plan

Yujin told the exchange that “the company has been approached by a potential strategic partner who had asked for the opportunity to discuss with the board a possible investment with the company that would entail the company maintaining its listing on AIM.”

Yujin had announced on 17 April a possible delisting due to its share price under-valuation and lack of liquidity in its shares trading. The company was listed in 2009 by way of introduction.

The company said the delisting plan will not be proposed at the shareholders meeting scheduled on 2 May.

In April alone, Yujin had sold two single-hull bunker tankers to pocket a total of SGD4.5m ($3.6m). Proceeds of the sale will be used to partly repay bank loans and for working capital purposes.

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