Skylink Holdings (SGX:XZB) has proposed to undertake a capital reduction by canceling lost or unrepresented share capital of up to SG$45.8 million, according to a Monday filing with the Singapore Exchange.
Shares of the commercial vehicle leasing company were up over 2% in Tuesday trading.
The accumulated losses arose mostly from the company's legacy loss-making businesses before the completion of the acquisition of the company by Skylink APAC via a reverse takeover.
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