LONDON, Oct 25 (Reuters) - The founders of Kazakh miner ENRC , whose bid to buy out minority shareholders went unconditional on Friday, have applied to UK regulators and the London Stock Exchange to delist the company.
The trio of billionaire founders, who launched the bid alongside the Kazakh government, said in a statement that ENRC would now re-register as a private company.
Shareholders representing 96.7 percent of ENRC shares have accepted the bid. Outstanding investors will either tender their stock, or remain minority holders in a private company.
ENRC listed in London in 2007, but has been hit by boardroom troubles, corruption investigations and weaker commodity prices. Its shares have dropped some 80 percent from a 2010 peak.
Our Standards: The Thomson Reuters Trust Principles.