Tuesday, 28 June 2016

Stocks Tips : CMA CGM crosses 90% ownership threshold of NOL, to proceed with compulsory acquisition and delisting


SINGAPORE (June 28): CMA CGM S.A. announced that its ownership of Neptune Orient Lines has exceeded 90%.

As of Monday night, CMA CGM collectively owns 2.36 billion NOL shares, or 90.68% of the company.

The Singapore Exchange is likely to suspend trading for the company at the close of the offer given that NOL's public float has fallen below the minimum threshold of 10%.

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