Australand to delist from SGX

Australand to delist from SGX

Property developer and investment company Australand Property Group (ASX:ALZ) has decided to delist from the Singapore exchange after weighing the pros and cons of a secondary listing.

The company said it has been informed by the SGX that it has no objection to a proposed delisting.

Australand will now offer holders of SGX-traded shares to have their securities sold on the ASX through an exit offer.

The company has appointed Macquarie Securities Australia as the broker of the sales under the exit offer.

The cut-off date to apply for participation is September 14, and the sales will conducted in batches according to the weeks in which the applications are received. The exit offer price will be the same for each security sold in one of these batches.

The remaining unsold shares will be transferred to trading on the ASX.

ALZ shares fell 3.18% in Monday's trading to $2.740.

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Tags Singapore Stock Exchangedual listingAustraland Property GroupASX:ALGdelisting

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