OCFT investors approve going‑private; ADS trading halted Oct 30
Rhea-AI Filing Summary
OneConnect Financial Technology (OCFT) announced that shareholders approved a proposal to privatize the company by way of a scheme of arrangement under the Cayman Islands Companies Act, subject to sanction by the Grand Court of the Cayman Islands.
The company anticipates a trading halt of its ADSs before market open on October 30, 2025 (New York time), coordinated with the last day of trading of its ordinary shares on the Hong Kong Stock Exchange on October 30, 2025 (Hong Kong time). If the Scheme is sanctioned and becomes effective in November 2025: (i) ADS trading on the NYSE will not resume and the last trading day will be October 29, 2025 (New York time); (ii) withdrawal of listing on the Hong Kong Stock Exchange is expected to be effective on November 21, 2025 (Hong Kong time) and permanent suspension of ADS trading on the NYSE is expected on November 21, 2025 (New York time); and (iii) ADSs are expected to be delisted from the NYSE on December 1, 2025 (New York time).
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Insights
Shareholders approved going‑private; delisting steps hinge on court sanction.
OneConnect obtained shareholder approval to privatize via a Cayman scheme of arrangement, which is a court-supervised process. The filing states the proposal remains contingent on sanction by the Grand Court of the Cayman Islands, making the court decision the gating milestone for completion.
The company outlines a sequence: an NYSE ADS trading halt before October 30, 2025, an NYSE last trading day on October 29, 2025, expected withdrawal of its Hong Kong listing effective November 21, 2025, permanent suspension of ADS trading on the NYSE on November 21, 2025, and an NYSE delisting expected on December 1, 2025, all conditioned on the Scheme becoming effective in November 2025.
Key dependencies are the Cayman court sanction and the scheme’s effectiveness in November 2025. Investors can reference the Schedule 13E-3 and the joint announcement furnished as Exhibit 99.2 for formal details on the process and voting results.