LHN applies to spin off and list logistics business on Catalist board

PROPERTY player LHN has applied to the Stock Exchange of Hong Kong to spin off and separately list the shares of LHN Logistics on the Catalist board of the Singapore Exchange, the company said in a bourse filing on Wednesday (Nov 24).

A concurrent application was also made to the Singapore Exchange Securities Trading.

Apart from the logistics business, which comes under LHN Logistics, the group houses 2 other business segments, centred on space optimisation and facilities management.

All 3 segments are separate and distinct.

If the proposed spin-off is successful, LHN will continue to hold majority shareholding in LHN Logistics, and the latter will continue to be consolidated with the group, LHN said.

LHN shares closed flat on Nov 24 at S$0.355.