Shareholders of Legend Upstar (HKG:0459) approved the scheme for the privatization of the firm by Wealth Builder at a court meeting held Friday, according to a same-day joint filing on the Hong Kong bourse.

Legend Upstar's shareholders also approved the cancellation of the existing shares held by scheme shareholders and an increase to the firm's issued shares to the number before cancellation at an EGM held the same day.

The expected last day for trading of the firm's shares is Feb. 27, while, subject to the scheme becoming effective, the withdrawal of listing of the shares from the Hong Kong bourse is expected to be effective at 4:00 pm on March 24.

Wealth Builder had proposed to privatize Legend Upstar via a scheme of arrangement in December 2025.

Wealth Builder, owned by Legend Upstar's Chair Freddie Wong, held around 1.13 billion, or 62.74%, of Legend Upstar's issued shares at the time of the offer.