By Michael Susin

CK Asset Holdings said Thursday that Civitas Social Housing is required to cancel its share trading on the London Stock Exchange's main market after the Hong-Kong-based property developer obtained 75% or more of Civitas's issued share capital.

CK Asset--which is bidding for Civitas through its wholly-owned indirect subsidiary Wellness Unity--said it is considering the possibility of maintaining the REIT status of Civitas, and is in the process of making an application to list Civitas shares on the International Stock Exchange in Jersey.

CK Asset said the offer for the compulsory acquisition of the remaining shares will remain open and urged shareholders to accept the offer given they may be unable to sell later.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

July 06, 2023 05:20 ET (09:20 GMT)

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