Hong Kong-listed Yuexiu Property to delist shares traded in Singapore

HONG Kong-listed Yuexiu Property Company Limited said on Wednesday that it has proposed to delist the shares that are currently traded on the Singapore Exchange (SGX) on a secondary listing.

It cited the thin trading volume of its shares traded here, which has made it untenable to maintain administrative overheads and costs of complying with secondary listing requirements.

The Guangdong-based developer said it has received a confirmation from SGX that it has no objection to the proposed delisting subject to certain conditions.

Yuexiu Property's majority shareholder is a state-owned enterprise under the supervision of the state-owned Assets Supervision and Administration Commission of the Guangzhou Municipal People's Government.