Global Palm Resources to delist on Jul 4

PALM oil producer Global Palm Resources (GPR) will delist on Jul 4, it said on Friday (Jun 30).

The move comes after the Singapore Exchange on Jun 21 approved the mainboard-listed company’s application to delist, as offeror ATH Holdings has snagged more than 90 per cent of the company’s shares and acquired the remaining stakes.

GPR’s chief executive Suparno Adijanto, along with his six family members, on Mar 29 launched a voluntary unconditional offer to take the palm oil producer private at S$0.25 per share. This was done through Adijanto’s special-purpose vehicle, ATH Holdings.

GPR suspended trading on Jun 1.