trending Market Intelligence /marketintelligence/en/news-insights/trending/usX5o8lKUn4_TdIqNqxLLw2 content esgSubNav
In This List

Shareholders approve Hopewell privatization

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


Shareholders approve Hopewell privatization

Hopewell Holdings Ltd. said the roughly HK$21.26 billion offer to privatize the company was approved by shareholders at two March 21 meetings.

About 96.27% of the voting rights of disinterested shareholders were for the proposal at the court meeting and about 97.87% of voting shares approved the special resolution at an extraordinary general meeting. Petrus HK Co. Ltd. needed at least 75% of the votes cast in order for the deal to push through.

The takeover still needs the High Court of Hong Kong to sanction the scheme for it to become effective. If the approval, along with the fulfillment of all other conditions to the proposal, will be secured, the bid will have a May 2 effective date and Hopewell will delist from the Hong Kong stock exchange May 3.

The developer expects the last trading day of its shares on the bourse to be April 17.

Petrus HK's HK$38.80-per-share cash offer for Hopewell was announced in December 2018.