A8 New Media's (HKG:0800) shares are expected to be delisted on Tuesday after a Cayman Islands court approved LuxOrigo Investment's take-private offer for the media company, according to a Sunday filing with the Hong Kong Stock Exchange.
A8 already accepted 98.035% of the outstanding share options granted under the scheme, according to the filing.
LuxOrigo offered to buy 851,501,230 shares in A8 for HK$0.36 apiece for about HK$306.5 million, according to a June 12 filing. The deal also includes the option to purchase up to 33,234,408 share options under the scheme.
Price (HKD): $0.36, Change: $+0.010, Percent Change: +2.86%
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