Market Chatter: AltaX, Phillip Securities Launch Liquidity Program for Income Insurance Shares

MT Newswires06-11

Alta Exchange (AltaX) and Phillip Securities launched a program that allows Income Insurance shareholders to sell their shares without requiring the insurer's endorsement, according to a report by The Straits Times on Thursday.

Shareholders have been given a registration window from June 2 to June 30, the report added.

Phillip Securities will acquire shares from participating sellers and will place them with investors through AltaX.

Meanwhile, shareholders viewed the process as too complex and said a limited buyer pool could impact trading volume, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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