Want Want gets green light for Taiwan delisting
SINGAPORE, Sept 24
SINGAPORE, Sept 24 (Reuters) - Want Want China Holdings Ltd , the country's top food and beverage maker and distributor by market value, has obtained approval from the Taiwan stock exchange to delist its Taiwan depositary receipts, it said on Tuesday.
Want Want, known for its rice crackers, will delist its Taiwan shares with effect from Oct. 15, it said in a statement posted on the Hong Kong stock exchange.
It did not state a reason for its delisting, though the move is seen as a setback for Taiwan's efforts in attracting more overseas companies to list on its stock exchange.
Want Want, which is also listed in Hong Kong, applied for the delisting in August and said it would repurchase up to 8.1 million of its Taiwan shares until the last day of trade.
The latest move marks the second time the company has delisted from a bourse, after a similar move in Singapore in 2007.
The announcement came after the markets closed in Taiwan and Hong Kong. Its Taiwan shares ended 2.1 percent up at T$46, while its Hong Kong shares closed unchanged at HK$12.4. For a copy of the statement, please click here (Reporting by Lee Chyen Yee; Editing by Louise Heavens)
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