PETALING JAYA: Bioalpha Holdings Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Securities.
In a filing with the stock exchange, Bioalpha said the group and its subsidiaries have met the requirements for the transfer of its listing status as set out in the Equity Guidelines issued by the Securities Commission Malaysia (SC) with an aggregate after-tax profit of at least RM20 million for the past three full financial years and an after-tax profit for the most recent financial year of at least RM6 million.
Accordingly, Bioalpha Group is in a healthy financial position, with positive cash flow from operating activities and no accumulated losses based on latest audited financial statements of financial position for the financial year ending Dec 31, 2018.
Bioalpha was listed on the ACE Market on April 14, 2015.
“The board believes that the proposed transfer of listing will enhance the company’s credibility, prestige and reputation, and accord the company with greater recognition and acceptance amongst investors, including institutional investors, while reflecting Bioalpha group’s current scale of operations,” the group said.