Conversion of warrants to boost A-Sonic’s market value, could help lift it from exchange watchlist

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SINGAPORE – The substantial shareholder and two directors of listed logistics player A-Sonic Aerosopace are exercising their bonus warrants, thus boosting the market capitalisation of the company to a level where it might lift itself off the SGX Watchlist.

The conversions this week by chairman and chief executive Janet Tan of 8.4 million warrants and director Irene Tay of 224,450 warrants into an equivalent number of A-Sonic shares will increase the total market capitalisation of the company to $40.6 million based on Friday’s (Jan 14) closing price of 60.5 cents.

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