Hengxin Technology's plan to delist fails to go through

Hengxin Technology's plan to delist from the Singapore Exchange has failed after certain conditions were not met, the company said on Thursday.

The firm's executive director and chairman Cui Genxiang had made a delisting offer last year which would see Hengxin leave the SGX but retain its listing on the Hong Kong Stock Exchange.

However, by the deadline of Dec 31, Hengxin said that the following conditions had not been met; obtaining the requisite SGX approval, getting shareholder approval and the receiving the minimum number of acceptances. The offer has now lapsed and the delisting offer cannot proceed.