SHARES of LHN Logistics : GIH 0% will be delisted from the Singapore Exchange’s (SGX) Catalist board from 9 am on Nov 1 upon the completion of its compulsory acquisition, the company announced on Monday (Oct 30).

This is a day after the counter’s expected delisting date on Oct 31, as indicated by LHN Logistics’ board on Oct 27, when the group announced that China’s Milkyway Chemical was expected to complete its compulsory acquisition around Oct 30.

Milkyway Chemical’s offer for LHN Logistics at S$0.2266 apiece closed on Sep 27 with 99.14 per cent valid acceptances.

The deal was previously declared unconditional on Aug 21 after the offeror also crossed the 90 per cent threshold for acceptances, allowing it to exercise its right of compulsory acquisition.

LHN Logistics went public on the Catalist board in April last year, with an initial public offering price of S$0.20 per share.

Milkyway Chemical launched its pre-conditional voluntary general offer for the logistics services group at the price of S$0.2266 per share in June 2023.

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Shares of LHN Logistics remain suspended. The counter last traded at S$0.225 on Sep 27, before its mandatory suspension took effect the following day.

Its parent company LHN Limited : 41O 0% is in the process of transferring its Catalist listing to the SGX mainboard, and received in-principle approval to do so on Oct 24.