Hi All,
Recently, there are quite a stocks get delisted. However, there is a few nature of offers. They are :
1) Voluntary delisting
2) Mandatory conditional
3) Voluntary unconditional
4) Mandatory unconditional
Do anyone help me to understand what is the difference nature as stated above?
Thanks in advance.
My brief understanding:
1) Voluntary delisting - offered by a substantial shareholder to take the company private
2) Mandatory conditional - takeover offer from a 3rd party, usually on crossing the 30% treshold that trigger the GO. However, the offer is conditional on a certain level being obtained by the offeror by the closing date. If the level is not obtained, all shares tendered will be void and returned to the original owner.
3) Volunrtary unconditional - offered by a substantial shareholder, usually just to increase his stake in the company.
4) Mandatory unconditional - related to #2. Once the conditional level is reached, the offer is declared unconditional.
What about the delisting of debt-ridden S-chips (e.g. Ferrochina)?
How to capitalize from this type of delisting of companies?
(01-10-2012, 09:10 PM)lonewolf Wrote: [ -> ]My brief understanding:
1) Voluntary delisting - offered by a substantial shareholder to take the company private
2) Mandatory conditional - takeover offer from a 3rd party, usually on crossing the 30% treshold that trigger the GO. However, the offer is conditional on a certain level being obtained by the offeror by the closing date. If the level is not obtained, all shares tendered will be void and returned to the original owner.
3) Volunrtary unconditional - offered by a substantial shareholder, usually just to increase his stake in the company.
4) Mandatory unconditional - related to #2. Once the conditional level is reached, the offer is declared unconditional.
(01-10-2012, 11:15 PM)Curiousparty Wrote: [ -> ]What about the delisting of debt-ridden S-chips (e.g. Ferrochina)?
How to capitalize from this type of delisting of companies?
(01-10-2012, 09:10 PM)lonewolf Wrote: [ -> ]My brief understanding:
1) Voluntary delisting - offered by a substantial shareholder to take the company private
2) Mandatory conditional - takeover offer from a 3rd party, usually on crossing the 30% treshold that trigger the GO. However, the offer is conditional on a certain level being obtained by the offeror by the closing date. If the level is not obtained, all shares tendered will be void and returned to the original owner.
3) Volunrtary unconditional - offered by a substantial shareholder, usually just to increase his stake in the company.
4) Mandatory unconditional - related to #2. Once the conditional level is reached, the offer is declared unconditional.
those are compulsory delisting pursuant to exchange rules
There is another delisting that is mandatory if majority shareholder has above 90%. What is it called?
(02-10-2012, 12:20 PM)mrEngineer Wrote: [ -> ]There is another delisting that is mandatory if majority shareholder has above 90%. What is it called?
Compulsory acquisition of share?