KUALA LUMPUR: The proposed privatisation of Hong Kong-listed Guoco Group Ltd by GuoLine Overseas Ltd has fallen through after failing to obtain the support of shareholders.
In a joint filing with the Hong Kong Stock Exchange on Thursday, GuoLine and Guoco announced that the proposed scheme arrangement for the privatisation had failed to receive 75% of the votes attaching to the scheme shares held by the independent scheme shareholders at the court meeting.
Subsequently, the proposal lapsed and would not be implemented, the filing said.