As reported in SGX, celestial has requested for suspension for its share until further notice:
Quote:
The suspension is to allow Merrill Lynch Far East Limited and its affiliates, the appointed sole dealer manager to assist the Company for negotiation with the Bondholders. The suspension will be lifted as soon as the views of the Bondholders are obtained.
Link: http://info.sgx.com/webcorannc.nsf/vwprint_portal/36EC058E838F56F3482575D30005AAA9?OpenDocument
They have also taken the chance to dismiss the rumour of a bank going to buy its bonds:
MISCELLANEOUS :: CLARIFICATION TO THE RUMOURS IN RESPECT OF THE ARTICLE IN THE LIANHE ZAOBAO HEADLINED "传一中资大银行或收购天圜营养债券" OF 13 JUNE 2009
Link: http://info.sgx.com/webcorannc.nsf/vwprint_portal/C205199BDC4E5343482575D6002DBAE3?OpenDocument
As I was saying previously, Merrill should be generating some form of contact and deriving solutions to resolve this and fast enough, I am guessing that this suspension could be proposed by Merrill and some news may come out fast enough these few weeks. Quite a number of comparisons were done with other suspended companies like Sino-Environment Tech and Beauty China. This definitely leaves some worries for investors, especially it didn't worked well for the 2 companies and I am quite heavily invested in this counter.
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