SingHaiyi gets approval from bourse operator SGX to delist

SINGHAIYI will delist after obtaining regulatory approval on Wednesday (Jan 12), as its free float has dropped to under 10 per cent, with the date to exit the mainboard to be announced.

In a regulatory filing, the property player said the Singapore Exchange (SGX) has no objection to its proposed privatisation as its controlling shareholders' voluntary unconditional cash offer has secured 95.8 per cent valid acceptances, leaving less than 10 per cent of the shares now held by the public.

SingHaiyi's controlling shareholders Gordon and Celine Tang made the privatisation offer last November for S$0.117 per share in cash and indicated their intention to exercise their right of compulsory acquisition.