Sa Sa wins go-ahead for listing
The listing of Sa Sa Cosmetic Co was approved by the exchange listing committee yesterday, as the company's main shareholders promised to take responsibility for any losses stemming from possible civil charges arising from its use of parallel imports, exchange sources said.
The flotation was held up by the committee last week over uncertainty of how listed companies using parallel imports should be regulated.
There were fears the company might face civil charges from authorised distributors of cosmetic products. Sa Sa was asked by the committee to seek legal advice on the issue.
It is understood the company's majority shareholders have given a commitment to cover any losses stemming from possible civil charges.