Singapore Telecommunications Limited (ASX:SGT)
is making moves to delist from the ASX due to low liquidity and weak demand for its CDIs.
The operator of Optus says its business and operations in Australia won’t be affected by the decision with the company having invested over $13 billion into its services locally.
The company is duel listed and says it will continue to trade on the Singapore securities exchange (SGX).
Holders of Singtel CDIs are advised they can either maintain their exposure by converting their stock to those listed on the SGX or they can sell their interest through a Singtel arranged facility.
The company is awaiting approval from the ASX and if given the go ahead shares will last trade locally on the 5th of June.
Singapore Telecommunications reported a net profit of $1.68 billion in the 2014 financial year.