F&N to be delisted?

Fraser and Neave (F&N) might not be delisted after all.  After controlling shareholder took over the company, there has been 2 senior appointments to the board of F&N.  The property and beverage conglomerate has appointed Koh Poh Tiong and former Singapore finance minister Richard Hu to the board.  Mr Koh Poh Tiong is a food and beverage veteran.

These appointments have led to speculation that Mr Charoen who bought over F&N might be keen to keep F&N listed on the Singapore stock exchange.  Mr Charoen currently holds more than 90% of F&N shares and SGX listing rules requires a free float of at least 10%.  To do so, more shares will probably have to be issued.  SGX has given F&N until 18 April 2013 to declare its listing intentions.