Niks Professional to delist via selective capital reduction

The company said the move is important given the current unpredictable and unstable macro environment.

Niks Professional, which offers beauty services and products, plans to delist via a selective capital reduction where shareholders will receive 23 cents each.

The company said the move is important given the current unpredictable and unstable macro environment.

Controlling shareholders, chairman and CEO Cheng Shoong Tat and his wife, Dr Ong Fung Chin, who hold 82.8% of the shares, will not take part in the selective capital reduction.

The group will call an EGM for shareholders to approve this deal, where a total sum of $5.144m will be returned for shares cancelled.

The offer is final and will not be revised, the company said.