Involuntary Delisting from Singapore Exchange and the Efficacy of the Exit Offer Requirement

Publication Type

Journal Article

Publication Date

2014

Abstract

This paper discusses the recent saga relating to the involuntary delisting of Jets Technics International Holdings Limited (“Jets Technics”) from the Singapore Exchange (“SGX”) highlights the problem faced by minority shareholders when their companies (the “issuers”) are mandated to delist from the SGX. While the SGX listing rules require the issuer or its controlling shareholders to make an exit offer to the minority shareholders in conjunction with the involuntary delisting, the case of Jets Technics illustrates the difficulties in ensuring compliance with the requirement. This note discusses the problems arising from the exit offer requirement and suggests some possible reforms.

Keywords

Delisting, Singapore Exchange, Involuntary Delisting

Discipline

Asian Studies | Securities Law

Publication

Company and Securities Law Journal

Volume

32

First Page

222

Last Page

227

ISSN

0729-2775

Publisher

Law Book Co

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