Keppel Corp crosses 90% mark to delist Keppel Land
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
If inflation continues to build, the Fed won’t be able to maintain neutral stance for long
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform