Local apparel firm Bossini International's (0592) privatization plan was approved at Monday’s court meeting and special general meeting, according to a filing.

The company is expected to delist on March 17.

The plan aims to cut the costs of maintaining its listing status and focus resources on expanding its international consumer goods business.

Its shareholders will receive one Viva Goods (0933) share, the parent company of Bossini International, for every five canceled Bossini International shares, under the privatization plan.