Dao Heng Bank to be delisted on September 4

DBS announced that by the end of last Friday, it had acquired 699 mln shares of Dao Heng Bank Group (0223), accounting for 98.25% of the existing issued shares of Dao Heng and the time limit of accepting the proposals was extended to August 3. As DBS had acquired not less than 95% shareholding of Dao Heng Bank, it had rights to make compellent acquisition from the other shareholders. The compellent acquisition notification was expected to be sent out on July 27. On the other hand, Dao Heng Group has applied to the Exchange to stop trading shares from July 27 until the compellent acquisition is finished and its listing position is cancelled. The last trading day for Dao Heng is on July 26 and the compellent acquisition is expected to be finished on September 3, while the stock is to be finished on September 4.

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