Addvalue Tech eyes spinoff, Catalist listing of unit
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Singapore
SATELLITE-BASED communication and data services provider Addvalue Technologies said on Tuesday that it is thinking of spinning off its subsidiary Addvalue Solutions (AVS) and is planning to seek a listing and quotation of AVS shares on the Singapore Exchange's (SGX) Catalist board.
Addvalue Tech added that it is also looking to transfer from its mainboard listing on the SGX to a Catalist listing following the introduction of the minimum trading price rule of 20 Singapore cents for mainboard-listed companies. This serves "as an alternative approach to shares consolidation and/or merger and acquisition to meet this requirement", Addvalue said.
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