On January 20th, Wenhua Dongfang will be delisted from the Singapore Exchange | Lianhe Zaobao
Mandarin Oriental will be delisted from the Singapore Exchange starting January 20, completing the privatization process by Jardine Matheson. Jardine Matheson acquired all shares of Mandarin Oriental at $3.35 per share last October and plans to delist it from the stock markets in Singapore, London, and Bermuda. The privatization plan was approved at a special shareholders' meeting in December last year. Mandarin Oriental suspended trading of its shares on the Singapore Exchange starting January 8 and will distribute a special dividend of $0.60 per share to shareholders on January 22
Jardine Matheson is about to complete the privatization process of Mandarin Oriental. Mandarin Oriental announced on Friday (January 16) that it will officially delist from the Singapore Exchange starting January 20.
Jardine Matheson announced last October that it would acquire all shares of Mandarin Oriental at a price of $3.35 per share (approximately SGD 4.31) and delist it from the stock markets in Singapore, London, and Bermuda. Jardine Matheson pointed out at the time that privatizing Mandarin Oriental aligns with the company's strategy of "achieving excellence and long-term returns from its business portfolio."
The privatization restructuring plan was approved by shareholders at a special general meeting held in December last year. Mandarin Oriental will be delisted from the stock markets in the aforementioned three locations on January 20. The company has suspended trading of its shares on the Singapore Exchange since January 8.
Further Reading
Mandarin Oriental's stock price surged 36.25% on acquisition news, Jardine Matheson rose 7.8% Mandarin Oriental enters Desaru, operating Southeast Asia's first beachfront resort Mandarin Oriental previously disclosed that it has completed the sale of part of its assets at One Causeway Bay in Hong Kong to Alibaba and Ant Group, and has received all payments. The company will distribute a special dividend of $0.60 per share to shareholders on January 22.
Mandarin Oriental's stock price surged significantly after the announcement of the privatization plan, closing at $3.34 before trading was suspended, which is very close to the privatization price proposed by JMH USD
