OneConnect Announces Privatization and Delisting Plans
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OneConnect Financial Technology Co., Ltd. has announced plans for privatization and delisting from the stock exchange. This proposal involves a scheme of arrangement under the Companies Act and is part of a ‘going private transaction’ in accordance with U.S. Securities Exchange Act regulations. Recent amendments to the Schedule 13E-3 with the SEC reflect progress in the process, which may affect stakeholders and the company's market position. OneConnect is listed on the Hong Kong Stock Exchange (HK:6638) and the NYSE (OCFT), with a current market cap of HK$2.33B.
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