Some of the rules include a fair and reasonable exit offer, as well as the approval of at least 75% of the total number of issued shares held by independent shareholders were part of the conditions behind SGX’s approval to a voluntary delisting. The independent financial adviser (IFA) must also opine that the exit offer is both fair and reasonable.
The Singapore Exchange Regulation (SGX RegCo), on March 22, says Boustead Projects (SGX:AVM
) must restore its free float after its shares were suspended after the close of its privatisation offer by Boustead Singapore.
In its filing, SGX RegCo referred to its regulator’s column in July 2019 that detailed the things companies needed to do when applying to go private.
