SingHaiyi gets approval from bourse operator SGX to delist
Add BT as a preferred source
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Not in education, employment or training: Why more Hong Kong youths are opting out of work
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Palm oil stocks set to surge as Indonesia said to be scaling back export overhaul: analysts
