United Engineers plans exit offer to delist WBL

UNITED Engineers, which together with concert parties own some 96.3 per cent of WBL Corporation following an offer through UE Centennial Venture, now wants to delist the tech, auto and property group from the Singapore Exchange (SGX).

WBL was taken over by UE, a property development conglomerate, earlier this year. UE had indicated earlier its intention not to preserve the listing status of WBL.

In a joint statement issued yesterday, both UE Centennial Venture and WBL said that the WBL board had already considered the delisting proposal.