China’s Dalian Wanda Commercial Properties Co Ltd said on Monday one of its largest shareholders intends to approve the developer’s Hong Kong delisting proposal, as it aims to dispel uncertainty over whether the proposal can gain sufficient votes. In a stock exchange filing, Wanda Commercial said China Life Insurance Co Ltd… Read more »
By Antonia Timmerman
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’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 »
China‘s securities regulator said it is analysing the potential impact of overseas-listed Chinese companies coming home to relist on mainland exchanges, potentially bad news for tech firms trying to come home and cash in on high valuations. The valuation gap between the domestic and overseas market and speculation on shell companies… Read more »
Dalian Wanda wants to de-list the unit from Hong Kong just 15 months after its market debut there, unhappy with its share performance and preferring to bet on listing in Shanghai after submitting an application last year.
MOL received letters from NASDAQ to consider applying for a second period to regain compliance, before April 14, 2016.
The board, however, decided not to pursue the application in the overall best of the company and its shareholders.
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 »
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 »
The Ruias-controlled Essar Ports Ltd will cease to exist as a publicly traded company as its promoters have successfully delisted the firm. JM Financial Institutional Ltd, manager to the delisting process, on Tuesday said that the delisting offer would be deemed to be successful. The delisting price was fixed at… Read more »
Promoters of Essar Ports Ltd have fixed Rs.93.66 as the floor price per share for acquiring 10.72 crore equity shares from public shareholders. At this floor price, promoters will have to shell out Rs.1,004 crore to buy out 25.06% in share capital from the public as a part of the… Read more »