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S$2.5B Wheelock Properties privatization ends with Oct. 18 Singapore bourse exit

Wheelock Properties (Singapore) Ltd. will be delisting from the Singapore stock exchange Oct. 18 at 9 a.m. local time.

The removal of the property company from the official list of the bourse comes as a result of the S$2.5 billion takeover by its Hong Kong-listed parent, Wheelock and Co. Ltd., through fellow subsidiary Star Attraction Ltd. At the Oct. 2 final closing date of the S$2.10-per-unit privatization offer, Wheelock Properties' public float also went below the required 10% minimum of the Singapore stock exchange and the company requested for a trading halt of its shares.

The local bourse issued a no objection statement for the planned delisting Oct. 11, according to a news release.

As of Oct. 15, US$1 was equivalent to S$1.38.