Minmetals Land (HKG:0230) said its privatization by June Glory International was approved by shareholders at both the court meeting and special general meeting, according to a joint Monday Hong Kong bourse filing.

Shares of the property developer were up more than 1% in Tuesday morning trade.

At the court meeting, the scheme of arrangement was approved by more than 99% of votes cast, satisfying the approval requirements.

The special resolution required to implement the scheme and the associated capital reduction was also passed at the special general meeting, with about 99.97% of votes cast in favour.

The scheme follows a proposal made in October 2025 by June Glory, a non-wholly owned subsidiary of China Minmetals, to privatize Minmetals Land at HK$1.00 per share in cash, valuing the offer at about HK$1.28 billion, according to an earlier filing.

The last day of trading in Minmetals Land shares on the Hong Kong stock exchange is expected to be Tuesday, Feb. 10.