Pentamaster International's (HKG:1665) shareholders approved the company's privatization at a court meeting held Feb. 28, a same-day filing with the Hong Kong bourse said.

Puga and Pentamaster (KLSE:PENTA) proposed privatizing the semiconductor company in December 2024.

The transaction will be heard in court on March 6. The court ruling is the last condition for the privatization to become effective, expected no later than March 7.

Once the go-private deal takes effect, expected March 17, shares of the company will be delisted from the Hong Kong bourse on March 19.

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