delisting

Indonesia: Cargill-controlled Sorini to go private

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Cargill-controlled Sorini Agro Asia Corporindo has announced plans to go private and delist its shares from the Indonesian Stock Exchange (IDX). Parent company Cargill Foods Indonesia is now offering to buy back all public shares at Rp 4,250 apiece. The offer is 150 per cent higher than Sorini’s last trading… Read more »

Hong Kong: HKEX considering broader rules on reverse takeovers

Hong Kong’s stock exchange may implement stricter rules to prevent companies sidestepping scrutiny of reverse takeovers (RTOs) and backdoor listings as part of a broad review of listing rules in the city, a top bourse official said. Exchange officials have held talks with market regulator Securities and Futures Commission and… Read more »

India: Essar Oil completes delisting process

Essar Oil Ltd, which runs India’s second biggest private sector refinery at Vadinar in Gujarat on Wednesday said it has completed the process of delisting from the stock exchanges. The company offered Rs.262.80 per share to its public shareholders, an 80% premium to the floor price of Rs.146.05 per share,… Read more »

Malaysia: Tycoon Surin Upatkoon to take over garments maker MWE for $92.6m

Garments manufacturer MWE Holdings Bhd has received a takeover offer from tycoon Surin Upatkoon to acquire its entire business and undertaking including all assets and liabilities, for MYR391.4 million ($92.65 million) or MYR1.70 per share. The takeover was offered via Upatkoon’s private vehicle Pinjaya Sdn Bhd on Monday. Upatkoon is… Read more »