Logistics firm CWT on Thursday said will be suspended from trading after November 2 due to an insufficient free float.
HNA, through acquisition vehicle HNA Belt and Road Investments, has gained control of 90.1 percent of the company. Singapore Exchange regulations require a free float of at least 10 percent.
Chinese conglomerate HNA Group's offer for CWT closes on November 2. The shares will be suspended after that deadline. HNA has said that it intends to delist CWT.
Shares in CWT rose 0.4 percent to S$2.34 on the Singapore Exchange. The stock has gained 21 percent so far this year.
