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Jurong Cement receives de-facto approval for de-listing

World Cement,

Jurong Cement Ltd has received in principle approval to de-list itself from the Singapore Exchange. Jurong’s shares were suspended in January after the public holding in the company fell below the 10% required by listing rules.

Holcim Investments, Jurong’s controlling shareholder made an offer in January to buy all the shares it does not already own for US$ 2.50 each.

After the offer, Holcim were left with 88.13% of Jurong Cement and have no plans to restore the public float, meaning Jurong Cement Ltd must de-list itself from the Singapore Exchange.

The approval from Singapore Exchange to de-list is subject to them not changing the exit offer of US$ 2.50 a share, and the de-listing date being made no sooner than two days after the shareholders have been informed.

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