Parent company garners 90.1% stake in Wheelock Properties at close of offer; starts delisting process

SINGAPORE (Oct 2): Wheelock and Company will proceed to delist Wheelock Properties (Singapore) from the Singapore Exchange following the successful conclusion of its $2.10 privatisation offer for the latter.
As at the close of voluntary unconditional general offer at 5.30pm on Tuesday, the total number of Wheelock shares owned by Wheelock and Company’s offer vehicle Star Attraction was 1.08 billion shares or 90.1% of the company’s total issued shares, which is above the 90% needed to be held by the offeror to take Wheelock Properties private.
As the 10% free-float requirement is no longer satisfied, trading of shares in the company has been suspended after the offer closed.
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