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Weiye's delisting offer made unconditional
WEIYE Holdings - a property developer and equipment manufacturer - said the delisting offer has been made unconditional, after the resolution was passed during an EGM on Tuesday.
Weiye announced earlier in March this year its intention to delist from the Singapore Exchange (SGX). It will, however, remain listed on the Hong Kong Stock Exchange.
The final closing date of the exit offer is Aug 7, 2018 at 4pm. The last day of trading of its shares will be July 30.
The proposed conditional cash exit offer will be done at S$0.65 or HK$3.88 in cash for each offer share.
One reason for the delisting was the limited liquidity in the trading of its shares on SGX.
The company said in March that the Hong Kong Stock Exchange is "geographically more aligned with the group's business operations" which are mainly in China, and has chosen that as the preferred platform for future fundraising activities.