Involuntary Delisting from Singapore Exchange and the Efficacy of the Exit Offer Requirement

• Main Author: Wan, Wai Yee
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2014
• Subjects: Delisting; Singapore Exchange; Involuntary Delisting; Asian Studies; Securities Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/1259
• Institution: Singapore Management University

This paper discusses the recent saga relating to the involuntary delisting of Jets Technics International Holdings Limited (“Jets Technics”) from the Singapore Exchange (“SGX”) highlights the problem faced by minority shareholders when their companies (the “issuers”) are mandated to delist from the SGX. While the SGX listing rules require the issuer or its controlling shareholders to make an exit offer to the minority shareholders in conjunction with the involuntary delisting, the case of Jets Technics illustrates the difficulties in ensuring compliance with the requirement. This note discusses the problems arising from the exit offer requirement and suggests some possible reforms.