Aussino shares drop amidst reverse takeover issue

Reuters says shares of Aussino Group Ltd plunged as much as 12 percent on concerns that a planned reverse takeover may not materialise.

“By 0111 GMT, shares of Aussino were 6.6 percent lower at S$0.156 with over 8.4 million shares traded, compared to a full-day average of 24.5 million shares over the last five sessions,” said the report.

According to Reuters, the firm planning to inject assets into Aussino is linked to a Myanmar businessman on a US blacklist.

View the report here.

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