AJJ Medtech received a listing and quotation notice for 127.5 million shares, according to a Wednesday filing with the Singapore Exchange.
Shares of the company surged over 10% in Thursday trading.
This comes after the company proposed a placement exercise for the shares at an issue price of SG$0.0072 per share to several investors.
The new shares are required to be placed out within seven market days from the date of the notice, the filing said.