OneConnect Financial Technology (HKG:6638) said the Grand Court of the Cayman Islands has sanctioned its proposed privatization by Bo Yu Limited, according to a Thursday joint Hong Kong bourse filing.
The order was registered on Nov. 17, with the scheme becoming effective on Nov. 19 once conditions were met.
Bo Yu first proposed the transaction on May 15, offering HK$2.068 per share to cancel all scheme shares under a scheme of arrangement.
The withdrawal of OneConnect's H-share listing will take effect on Nov. 21.
Meanwhile, trading in its ADSs on the New York Stock Exchange will be permanently suspended the same day, with delisting scheduled for Dec. 1.