Datapulse Technology's Controlling Shareholder Proposes Delisting; Shares Soar 50%

MT Newswires08-11 15:48

Datapulse Technology's (SGX:BKW) controlling shareholder and chief executive, Ang Kong Meng, has proposed a voluntary delisting of the company, alongside a conditional cash exit offer of SG$0.155 per share, according to a Tuesday filing with the Singapore Exchange.

Ang has a 77.27% stake in the hotel and hospitality property investment company, and is offering to acquire shares he does not already own.

The delisting is conditional on approval by at least 75% of independent shareholders present and voting at an extraordinary general meeting.

The controlling shareholder does not intend to revise the offer price.

Shares of the company soared nearly 50% in Tuesday trading.

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