26 Mar '15, 11am

Keppel Land to delist soon

Comment E-mail to friend Bookmark & Share Keppel Corp’s stake in Keppel Land reached 90.9 percent at the end of trading yesterday, allowing the company to delist its property arm from the Singapore Exchange (SGX). “Under Rule 1303(1) of the Listing Manual, as the offeror has, through acceptances or otherwise, succeeded in holding more than 90 percent of the total number of issued shares, SGX will suspend trading of the shares the close of the offer,” the group said in a regulatory filing. However, it is still short of the 95.5 percent that would allow it to free float, which represents the portion of shares in the hands of public investors. Back in January when it owned 54.6 percent of all the shares, Keppel Land made an unconditional cash offer to acquire all un-owned stocks and convertible bonds at $4.38, or $4.60 if its shareholding hit 95.5 percent. That offer will clo...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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#singapore #property Keppel Land to delist soon...

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Comment E-mail to friend Bookmark & Share Keppel Corp’s stake in Keppel Land reached 90.9 percent at the end of trading ye...

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