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Keppel Corp has crossed the 90 per cent threshold in acceptances required to delist its real estate subsidiary Keppel Land.
A Singapore Exchange (SGX) filing showed that as at 5pm on Wednesday, Keppel Corp owned, controlled, has acquired or agreed to acquire 90.9 per cent of the total number of issued Keppel Land shares.
Accordingly, SGX will suspend trading of Keppel Land shares after the offer closes at 5.30pm on Thursday.
Keppel Land will continue to trade on Thursday. Keppel Corp still needs to own at least 95.5 per cent of Keppel Land to complete the buyout by compulsorily buying the remaining shares it does not own.