Ronshine Service Holding (HKG:2207) said the Grand Court of the Cayman Islands sanctioned its privatization scheme as well as capital reduction on March 12, according to a Thursday filing with the Hong Kong bourse.

The scheme of arrangement became effective today, March 14, while the withdrawal of listing of the company's shares will take place on March 18.

Rongxin Yipin has offered to take Ronshine Service private in January via a scheme of arrangement. The offeror is wholly owned by Rongan Juxiang, one of the controlling shareholders of the company.

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