BEIJING, Aug. 13 (InfoChina) -- TOM Online (HK: 8282, Nasdaq: TOMO)’s privatization scheme was passed on August 10. China Business News reported that H-shares of TOM Online will expire on August 27 and the company is likely to be delisted on September 3 from HKEX.
It is still unknown when the company will quit from Nasdaq.
Market observers note that the overall decline of SP business in China and the undervaluation of TOM Online’s share forced TOM Group (HK:2383), parent company of TOM Online, to private the latter.
Privatization of TOM Online can give the company more leeway to restructure itself and explore new business opportunities.
Privatization of TOM Online costs 1.57 billion HK dollars, representing 1.52 HK dollars per share or 15.564 US dollars per ADS.(Edited by Chen Dongyi,
)
China Stock News 
