LYC Healthcare faces trading halt and imminent delisting from Bursa Malaysia
LYC Healthcare Bhd will have its shares suspended on Oct 27 and be removed from Bursa Malaysia two days later after failing to appoint a new sponsor.
Following the termination of its sponsor UOB Kay Hian (M) Sdn Bhd on Oct 16, LYC Healthcare Bhd did not secure a new sponsor, prompting Bursa Malaysia to act. The exchange will suspend trading of LYC’s securities on Oct 27 and proceed with delisting the company from Bursa Malaysia Securities Bhd two days later. The firm may request a deferment by submitting an appeal before Oct 26, but the trading halt will remain in effect regardless of the appeal outcome.
Once delisted, LYC Healthcare will remain active as an unlisted company, continuing its business operations and any planned corporate restructuring. Shareholders will retain ownership, though their shares will no longer be quoted or traded on the exchange.
Why it matters
Investors and shareholders must prepare for loss of market liquidity as LYC Healthcare's shares become untradeable.
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