,Singapore

Wheelock Singapore to delist following buyout

Shares retained by the public is less than the 10% free float requirement.

Wheelock’s share trading has been suspended after the $2.10 privatisation offer by Wheelock & Company arm Star Attraction has finally closed. After the deal, the parent firm snapped 90.1% stake in Wheelock Singapore.

“Under Rule 1303 of the Listing Manual, as the offeror has, through acceptances or otherwise, succeeded in holding more than 90% of the total number of issued Shares, the SGX-ST will suspend trading of the Shares on the Singapore Exchange - Securities Trading (SGX-ST) at the close of the offer,” the announcement noted.

Also read: Wheelock Properties' privatisation offer extended to 2 October

Following the privatisation offer close, shares held by the public is down to approximately 9.9% and is less than the 10% under the free float requirement.

Wheelock’s parent firm has yet to reveal the particular date for delisting but has expressed intention to delist from the SGX-ST.

Prior to 2 October, the offer close was scheduled way back on 28 September.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The partnerships aim to improve care delivery and patient outcomes.
The KoolLogix cooling system for data centres uses passive heat extraction and removal.
This is the first-of-its-kind collaboration between an index provider and an airport group.
The new initiative is targeted towards offering greater savings and flexibility.
Mapletree Logistics Trust was seen with the most growth.
Flexibility, specificity, and customer-centred approaches prove to be the edge in today’s enterprise application software companies.
The list is from Investigoal, which gave Singapore a score of 8. 
It won't push through with the acquisition of the majority of stake in a Vietnam property firm.
DBS Country Head Shee Tse Koon has apologised for the disruptions.
Only two in five Singaporean internet users are aware of NFTs.
October postings were up by 76% from February 2021.
Three of the four initiatives were spearheaded by Enterprise Singapore.
The agreement comprises two payments.
MTI cited four downside risks that will affect the economy's growth next year.