Jilin Jiutai Rural Commercial Bank (HKG:6122) said Jilin Financial's proposed acquisition has become unconditional in all respects, paving the way for the bank's privatization and delisting from the Hong Kong Stock Exchange next month, according to an Oct. 24 bourse filing.

Valid acceptances were received for 94.18% of Jiutai Bank's H shares and 72.51% of its domestic shares, exceeding the thresholds required for the deal to proceed.

Jilin Financial is paying HK$0.70 per H share and 0.63 yuan per domestic share in cash under the voluntary conditional general offer.

Shareholders approved all related resolutions at extraordinary and H-share class meetings on Oct. 24, the filing said.

The H-share delisting is expected to take effect on Nov. 24, with the final closing date set for Nov. 21.

Trading in Jiutai Bank's H shares has been suspended since March 12 and will remain halted until further notice.