Allan International Targets August Deadline to Restore Public Float

MT Newswires Live

01/16

Allan International (HKG:0684) targets to restore its public float by August, according to a Friday Hong Kong bourse filing.

The company said its public float currently stands at about 24.04%, below the 25% minimum required under Hong Kong listing rules.

Discussions have been held with key people on the possible disposal of shares to restore compliance, it added.

However, Allan International said additional time is needed to explore interest from potential investors, citing recent market volatility and uncertainty in the global economic outlook.

The company added that it is considering appointing a financial adviser to assess other feasible options, with an appointment expected by April.

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