Transworld Holding proposes to delist Shreyas Shipping

Mumbai: Transworld Holding, a UAE-based shipping and maritime company, has announced its intention to voluntarily delist the equity shares of its Indian subsidiary, Shreyas Shipping & Logistics (SSL), from NSE and BSE by acquiring all shares held by the public in Shreyas.

Transworld holds a 70.44% stake in SSL. The delisting is expected to give Transworld greater operational and financial flexibility. The price for the delisting will be determined through the reverse book-building mechanism. NovaaOne Capital is the manager of the delisting process. The delisting is subject to various conditions.