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Global Testing Concludes Share Capital Reduction, Cash Distribution; Shares Zoom 8%

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Global Testing (SGX:AYN) completed all regulatory requirements for its capital reduction exercise, leading the way for cash distribution to entitled shareholders, according to a Friday filing with the Singapore Exchange.

Shares of the semiconductor company surged nearly 8% in Monday trading.

Earlier, the company had agreed on a share capital reduction activity at SG$0.04 per share, with a target to return around SG$1.3 million to shareholders.

Meanwhile, the company has also lodged a confirmation of the activity with the Accounting and Corporate Regulatory Authority of Singapore on June 12.

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