SGX gives nod of approval to Delong Holdings' proposed delisting

THE Singapore Exchange (SGX) has approved the proposed delisting of Delong Holdings, the steelmaker said on Wednesday.

The group's chief executive Ding Liguo's revived privatisation offer closed on Tuesday, with the offeror and concert parties owning 98.75 per cent of the total number of shares. Mr Ding had launched a voluntary cash offer to take Delong private at S$7 a share via vehicle Best Grace Holdings.

Delong shares have been suspended since 9am on Wednesday. The counter was flat at S$6.98 at Tuesday's close.