Stock News: Peal Energy is expected to be delisted!!

PEARL Energy is expected to delist from the Singapore Exchange with its free float now below 10 pct, after Aabar Petroleum Investments Co PJSC raised its stake in the oil exploration firm to 96.93 pct. The Singapore bourse requires an issuer to ensure that at least 10 pct of listed equity securities are at all times held by the public. United Arab Emirates' Aabar, which previously held a 48.29 pct stake in PEARL, said it has raised its interest in the company to 96.93 pct through a mandatory unconditional cash offer to shareholders.