Keppel Land bids SGX goodbye after KepCorp’s successful privatisation bid

KepCorp now owns 90.9% of KepLand.

Keppel Land is bidding the Mainboard goodbye after Keppel Corp successfully bagged 90.9% of all KepLand shares.

Under SGX listing rules, a company may only remain listed if its public float is greater than 10%.

KepCorp announced yesterday evening that does not intend to place out any shares to members of the public and it will take steps to delist the company after the offer closes.

The offer is set to close today, but KepCorp has the option of extending it again.

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