Alpina (SGX:ZXY) said its proposed privatization via a scheme of arrangement became effective on Friday, following the lodgement of the High Court sanction order with the Accounting and Corporate Regulatory Authority.

With the scheme now binding, the engineering services company confirmed it has satisfied all conditions tied to the Singapore Exchange Regulation's in-principle approval for its delisting.

The delisting of Alpina's shares is expected to take place on or around Dec. 4, according to a Friday filing with the Singapore bourse.

Eligible shareholders are set to receive both the scheme consideration and the special dividend on or around Dec. 2 and in any case no later than Dec. 9.