Methods of offering of securities
3.9
Can an applicant undertake an offer for sale during the initial public offer under the ACE LR?
Yes, an offer for sale is allowed provided that the applicant has generated 1 full financial year of operating profit based on its latest audited financial statements and all its promoters in aggregate, hold not less than 45% of the enlarged issued and paid-up capital of the applicant at the date of admission to the ACE Market.