SGX RegCo to relook exit offers, voting requirements for delistings

It is considering if offer prices should be required to be both fair and reasonable in bid to protect minority shareholders

Angela Tan

Published Sun, Oct 28, 2018 · 09:50 PM

Tan Boon Gin

Singapore

DELISTING offer prices may have to be both fair and reasonable in future, and the voting requirements tweaked, if proposed changes being considered by the Singapore Exchange Regulation (SGX RegCo) come to pass.

SGX RegCo is planning to put up these proposals for formal public consultation by year end.

"Currently our rules require an offer to be reasonable, but they don't require it to be fair. We are considering whether we should require the price to be both fair and reasonable," Tan Boon Gin, chief executive officer of SGX RegCo, said in reply to queries by The Business Times.

BT reported in June that SGX RegCo was mulling new rules to protect minority shareholders i…