Hyflux to distribute shares of consumer business ahead of planned listing
It plans to distribute 70 per cent of the shares in Hyfluxshop Holdings to its existing shareholders
Singapore
HYFLUX, which in August revealed it was exploring a separate listing for its consumer business, on Friday proposed a distribution of shares in Hyfluxshop Holdings so that its shareholders can participate in the growth of that business.
After this distribution of dividend in specie, Hyfluxshop will be in a position to "consider listing on a recognised stock exchange, should future growth performance be on track and market conditions of the capital markets be favourable", said the firm.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results