Niks Professional Ltd. has unveiled plans to delist from the Singapore Exchange Securities Trading Limited (SGX-ST) via a selective capital reduction. This move will see the cancellation of shares held by eligible shareholders, who will receive a cash return of S$0.23 per share. The company currently boasts an issued and fully paid-up share capital of S$6.48m, comprising 130 million shares.
The delisting is subject to approval from the SGX-ST under the Catalist Rules, requiring a 75% majority vote from shareholders, excluding the offeror concert party group. An exit offer, deemed fair and reasonable by an independent financial adviser, is also a prerequisite.
The proposed selective capital reduction will reduce the company’s share capital by S$5.144m, cancelling 22.37 million shares. The exit offer price of S$0.23 per share represents a 19.8% premium over the last traded price of S$0.192 on 4 September 2025, and a 48.4% premium over the net asset value per share as of 31 December 2024.
Controlling shareholders Cheng Shoong Tat and Ong Fung Chin, who hold significant interests in the company, will not participate in the capital reduction. Their combined holdings account for 82.8% of the total issued shares.
The proposed delisting and capital reduction are inter-conditional, requiring both shareholder approval and confirmation by the High Court of Singapore. If successful, this move will see Niks Professional transition from a public to a private entity, potentially altering its operational dynamics and shareholder structure.
