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Indiabulls Real Estate gets SGX-ST approved for voluntary delisting of Indiabulls Properties Investment Trust

Capital Market 

Indiabulls Properties Investment becomes 100% subsidiary of Indiabulls Real Estate

announced in reference to the closure of voluntary unconditional cash offer (Offer) by its subsidiary, Brenformexa, for acquisition of all units in Indiabulls Properties Investment Trust, a SGX-ST listed business (IPIT), and its exercise of right to compulsorily acquire all remaining units of Unitholders who have not accepted the Offer on the closing of the Offer, at Offer Price of S$0.90 per Unit (compulsory acquisition), Indiabulls Property Management Trustee, trustee-manager of IPIT (Trustee-Manager) had made an application to SGX-ST to obtain its approval to proposed voluntary delisting of IPIT from SGX-ST.

The SGX-ST has, by its letter dated 6 December 2017, informed the Trustee-Manager that it has no objection to delisting of IPIT from SGX-ST. The above will result in the Company becoming the 100% owner of IPIT and IPIT will get delisted from SGX-ST.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 07 2017. 09:26 IST