18 Sep 2015
PRC Merger and Delisting of China Merchants Property Development Co., Ltd. from the SGX-ST
Danny Lim, Chia Lee Fong and Caitlin Huang from the Capital Markets / Mergers & Acquisitions Practice Group are acting as Singapore counsel to China Merchants Property Development Co., Ltd., which is primary listed on the Shenzhen Stock Exchange and secondary listed on the Main Board of the Singapore Exchange Securities Trading Limited, in its RMB57.3 billion merger with its controlling shareholder, China Merchants Shekou Industrial Zone Holdings Co., Ltd. (which is in turn wholly owned by China Merchants Group Limited). In particular, as part of the PRC merger, China Merchants Property will make an exit offer to shareholders on SGX-ST and delist from the SGX-ST consequently.
The China Merchants Property group is principally engaged in property construction and development businesses in the PRC.