Singular Health Group Ltd (ASX: SHG) shares have been exempt from trading since last Friday’s close and many are curious as to why.
The medical imaging technology company went into a trading halt on Monday pending an announcement. On Wednesday, the day its shares were to resume trading, the company then requested a voluntary suspension from quotation.
Let’s look deeper into the trading halt.
Singular Health trading halt
The Singular Health share price has gone nowhere this week after the company remained in a trading halt pending further news regarding an acquisition and investment.
The company has kept any other details of the announcement secret, inevitably building anticipation among some investors.
At this point in time, however, it seems we will have to continue being patient to hear the company’s news.
The trading halt is to be lifted on Wednesday 24 February or until such time as Singular Health releases the announcement. Until then, we’ll just have to wait and see what the market newcomer has to share.
Trading halt follows rapid share price rise
Singular Health’s short time on the ASX has been profitable for shareholders. The company was first listed on 12 February 2021, following an oversubscribed capital raising.
30 million shares were offered at 20 cents each in Singular Health’s initial public offering (IPO), which raised around $6 million. This gave the company a market capitalisation of around $20 million.
Its first day on market saw the Singular Health share price gain a spectacular 90%. It has also gained another 83% since then.
About Singular Health
Singular Health is a Western Australian company operating in the medical imaging and printing industry.
It develops proprietary software and technology to collect medical data and help healthcare professionals and patients make informed decisions.
The company claims its volume-rendering platform accurately converts 2D medical imagery into volumetric 3D models. The models can be viewed and modified using standard monitors or virtual reality. Singular Health’s software is currently used in its flagship product MedVR.
Singular Health share price snapshot
On its last day of trading prior to the trading halt, the Singular Health share price was sitting at 69.5 cents.
Singular Health has a current market capitalisation of around $32.5 million with approximately 102 million shares outstanding.
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More reading
- The Singular Health (ASX:SHG) share price launched 27% higher today
- Why the Singular Health (ASX:SHG) share price is shooting 10% higher
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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