UE shares lose free float, will be delisted after offer closes

Singapore

UNITED Engineers (UE) has lost its free float and will be delisted after the close of Chinese developer Yanlord Land Group's mandatory conditional cash offer.

As at 5pm on Friday, Yanlord owned, controlled or has agreed to acquire about 91.43 per cent of UE's ordinary shares. That means that fewer than 10 per cent of UE shares are now held by the public.