Awantec's shares to be suspended on Apr 26, Bursa Malaysia deliberating on appeal

KUALA LUMPUR: Awanbiru Technology Bhd's (Awantec) shares will be suspended on Apr 26, 2024, notwithstanding an appeal against the suspension which Bursa Malaysia Securities Bhd's regulatory committee is reviewing.

"Awantech will be informed of the outcome in due course," it said in a filing with the bourse today.

On April 19, 2024, the company lodged a request with Bursa Securities to appeal the decision to suspend its securities.

The basis of the appeal is the company's demonstration that its current business operations are feasible, enduring, and show potential for growth.

Trading in Awantec's securities will be halted from April 26, despite to the ongoing appeal against suspension.

Awantec's share price closed unchanged at 22.5 sen a share yesterday, giving it a market capitalisation of RM177.7 million.

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