Broadway Industrial Group’s freezing order lifted
Shares in Broadway closed at 10.8 cents on March 12.
Broadway Industrial Group announced, on March 13, that the lifting of the freezing order has been granted with effect from March 4. The freezing order refers to Broadway's subsidiary, BIGL Asia's shares in BIGL Technologies (Wuxi), which were declared to be frozen from Oct 27, 2021 to Oct 26, 2024.
The notice of the lifting of the order was delivered through its subsidiary BIGL Asia’s Chinese legal counsel on March 12.
The news comes after Broadway announced, on Jan 3, that the arbitration claims, which stemmed from the terminated sale of its hard disk business in China, were rejected by the Chinese court.
Shares in Broadway closed at 10.8 cents on March 12.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Broadway Industrial posts FY2023 earnings of $3.1 mil after 2HFY2023 turnaround
Broadway Industrial Group shares jump after arbitration claims in China rejected
Broadway Industrial proposes disposal of subsidiary BIGL Beijing
Get in-depth insights from our expert contributors, and dive into financial and economic trends