Corporate digest

IPC Corp

IPC Corp plans to pay out S$1.60 per share as part of a capital reduction exercise after the company completed the 14.9 billion yen (S$172.2 million) sale of seven hotels in Japan. The hotels' sale was completed on Thursday, said IPC, a property investment and development company. Net proceeds from the disposal will be used to fund the capital reduction payouts.

The proposed payout will represent a total payment of S$136.47 million.

Ezra Holdings

EZRA Holdings has agreed to buy subsidiary Emas Offshore's entire 12.13 per cent stake in Malaysia-listed Perisai Petroleum Teknologi for US$56 million, a 500 per cent premium to the shares' market value, Emas announced late on Wednesday. Emas said its stake in Perisai is worth US$11 million based on market prices. The agreed price of US$56 million is based on…