Corporate digest

Serial System

MAINBOARD-LISTED Serial System is proposing to spin off its subsidiary Serial Microelectronics (HK) Limited (SMHK) and have it listed on the Stock Exchange of Hong Kong (SEHK). In connection with the proposed spin-off, Serial System intends to transfer its listing from the mainboard of the Singapore Exchange to Catalist.

The SMHK Group is incorporated in Hong Kong, and is 91 per cent owned by Serial System. "A separate listing of SMHK will enable the group to unlock the value of the spin-off group, which the company can leverage to fund further growth and expansion," said Serial System. Serial System said the spin-off proposal is subject to requisite approvals from all relevant regulatory authorities, including the SEHK.