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Weiye to spin-off equipment arm to Catalist

AFTER staging a reverse takeover of ailing mainboard-listed cleanroom equipment maker Kyodo-Allied Industries back in 2011, Chinese property developer Weiye Holdings is now spinning off the cleanroom equipment manufacturing business again, and this time to the Catalist board.

Weiye has lodged a preliminary offer document for the business, now called Eindec Corp, it said in a Singapore Exchange filing on Friday.

Eindec's initial public offering (IPO) will be done entirely through placement. The IPO price and trading date have not been announced yet.

Apart from making clean room equipment, Eindec plans to start selling air purifiers to consumers in China, it said in the preliminary offer document, adding that it has factories in Malaysia and Singapore.

The company said there was increasing demand from emerging markets for clean room equipment, and increasing demand for air purifiers in China.