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.

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.