Singapore tanker owner First Ship Lease Trust (FSL Trust) has been placed on a watch list by the country's stock exchange.
It received notification from the bourse that its six-month average price of less than SGD 0.20 ($0.15) and a capitalisation of less than SGD 40m over the same period was in breach of minimum listing criteria.
The owner must now take active steps to boost price and market value.
Trading in its securities will continue.
It said a preferential offering of SGD 43.03m completed this month is "expected to positively impact the trust’s market capitalisation."
