Pentamaster International's (HKG:1665) privatization offer and scheme proposed by Puga Holdings and Pentamaster (KLSE:PENTA) in December 2024 was sanctioned by the grand court on Thursday, a Friday bourse filing said.
Shareholders approved the privatization at a court meeting held on Feb. 28. The current court ruling was the last main condition for the privatization to become effective.
All the conditions, except certain authorizations from relevant authorities, have been fulfilled, and the scheme is expected to become effective on March 17.
The Hong Kong Exchange has already approved the withdrawal of the semiconductor company's listing, effective March 19, subject to the scheme becoming effective.
Price (HKD): $0.99, Change: $+0.020, Percent Change: +2.06%
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