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 »

Cargill's company logo
The company logo of Dalian Wanda Commercial Properties Co Ltd is displayed at a news conference on the company's annual results in Hong Kong, China March 24, 2016.  REUTERS/Bobby Yip/File Photo
A man walks past a panel displaying the benchmark Hang Seng index during afternoon trading in Hong Kong
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 »

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, in Beijing, China
The logo of the Dalian Wanda Commercial Properties
Image from MOL Global Facebook page.
Visual from Essar website
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 »

Garments maker MWE Holdings' website.
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 »

Photo: Livemint
Essar Ports said the proposed delisting is to achieve complete operational and financial flexibility in furtherance of the company’s businesses and financial needs and to enable the promoter group to pursue strategic opportunities in respect of its investments. Visual from Essar website.