This Chapter sets out:

(1) the requirements relating to trading halt, voluntary suspension and withdrawal by the issuer from the Official List; and 

(2) the powers of the Exchange with regard to trading halt, suspension and delisting of an issuer by the Exchange. 

(1) The Exchange may at any time grant a trading halt to enable an issuer to make announcements required by Rule 402 or suspend trading of the listed securities of an issuer at the request of the issuer. The Exchange is not required to act on the request.

(2) A trading halt may be changed to a suspension by the Exchange at any time.

(3) Where trading of the listed securities of an issuer is halted or suspended on Nasdaq, and remains halted or suspended after Nasdaq market close, the issuer must request for a trading halt or suspension of its listed securities on the Exchange as soon as reasonably practicable, and in no event later than 8.30am (Singapore time) on the market day immediately after the date (in Singapore time) on which trading of such securities remains halted or suspended on Nasdaq. Further details are set out in Practice Note 6.1.

(4) Nothing in this Rule shall prevent the Exchange from halting trading of the listed securities of an issuer if it deems it necessary or expedient in the interest of maintaining a fair, orderly and transparent market.

The Exchange may at any time suspend trading of the listed securities of an issuer in any of the following circumstances:

(1) where, in the opinion of the Exchange, it is necessary or expedient in the interest of maintaining a fair, orderly and transparent market;

(2) where the Exchange releases an announcement in relation to the issuer which, in the opinion of the Exchange, is market sensitive; or

(3) where, in the opinion of the Exchange, it is appropriate to do so.

Further details are set out in Practice Note 6.1.

Subject to Rule 606, the Exchange may, in its absolute discretion, approve an application by an issuer to delist from the Exchange, provided that the issuer has:

(1) complied with all applicable U.S. securities rules, regulations and laws, as well as all applicable laws and regulations of its jurisdiction of incorporation, in relation to its proposed delisting from the Exchange; and

(2) provided the Exchange and shareholders with sufficient notice of its intent to delist before the date of proposed delisting date to allow for an orderly transition.

The Exchange may, in its absolute discretion, remove an issuer from its Official List (without the agreement of the issuer) if:

(1) the issuer ceases to maintain its primary listing on the Nasdaq Global Select Market;

(2) the issuer is unable or unwilling to comply with, or contravenes, a Rule;

(3) in the opinion of the Exchange, it is necessary or expedient in the interest of maintaining a fair, orderly and transparent market;

(4) the issuer has no listed securities on the Exchange; or

(5) in the opinion of the Exchange, it is appropriate to do so.

(1) Where the issuer applies to be delisted or is delisted from the Exchange under Rules 604 or 605 and the issuer remains listed on Nasdaq or another exchange, the issuer must:

(a) at the issuer’s expense, make arrangements for transferring the issuer’s listed securities from CDP to the relevant depository for continued trading on Nasdaq or such other exchange; and

(b) promptly make an SGXNET announcement setting out the detailed procedures for transferring the issuer’s listed securities from CDP to the relevant depository for continued trading on Nasdaq or such other exchange, including:

(i) the specific process and timelines for the transition;

(ii) the procedural actions for shareholders, including exit options and implications to shareholders who do not transfer or sell their holdings by the specified deadline; and

(iii) the designated communication channels to coordinate with and assist shareholders with the process.

(2) The Exchange may impose additional conditions or requirements on the delisting as it considers it appropriate.