CapitaLand has applied to the Singapore Exchange (SGX) to delist CapitaMalls Asia (CMA), as it now holds more than 90 percent of CMA’s issued shares.
CMA shares will be suspended from trading after the close of the offer on 9 June 2014.
Lim Ming Yan, President and Group CEO of CapitaLand Limited, said: “With the delisting of CMA, the Group’s simplified structure and ‘One CapitaLand’ strategy will provide us with a strong platform to seize opportunities in integrated developments. We will be able to better leverage resources across the Group’s businesses to maximise overall project returns.”
On 14 April, CapitaLand offered to buy CMA’s remaining ordinary shares that CapitaLand does not already own.
CMA, formerly CapitaLand Retail, obtained approval to list on the SGX in late 2009.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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