LHN submits pre-admission notification for Catalist listing of logistics business
PROPERTY company LHN 41o on Friday (Jan 28) said it has submitted the pre-admission notification for the initial public offering (IPO) of its logistics business, LHN Logistics, to the Singapore Exchange Securities Trading (SGX-ST).
The terms of the proposed spin-off, including the offer size and price range of the shares of LHN Logistics, have yet to be finalised, said LHN in a bourse filing.
As at Friday, the Stock Exchange of Hong Kong had yet to grant LHN approval for the spin-off.
The group sounded its intention to undertake the spin-off last November, and to separately list the shares of LHN Logistics on the Catalist board of the Singapore Exchange.
Apart from the logistics business, the company 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, which will continue to be consolidated with the group, the company said.
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LHN said it will make further announcements in relation to the spin-off as and when appropriate.
Shares of LHN ended Friday unchanged at S$0.31.
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