Vard Holdings loses free float

About 91.91% of the shares are now owned by Fincantieri.

There’s no going back for shipbuilding firm Vard Holdings as it lost its free float prior to its delisting. Offeror Fincantieri Oil & Gas S.p.A. already has a hold of 91.91% of the shares.

According to an announcement, the shareholding of the public has fallen to below 10%. The suspension of trading of the shares will take place immediately after the close of the exit offer.

Vard Holdings will end trading in the Singapore Exchange (SGX) by 10 August.

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