Raffles Education gets Hong Kong nod for spin-off
PRIVATE education provider Raffles Education Corp said on Friday that it has obtained an in-principle approval from the Stock Exchange of Hong Kong (SEHK) for the proposed listing of its subsidiary Oriental University City Holdings (HK) on the Growth Enterprise Market (GEM) board. This follows a no-objection letter from the Singapore Exchange earlier this month.
Formal and final approval from SEHK is subject to the fulfilment of documentary requirements within prescribed time limits, and approval for the contents of its prospectus. The firm noted that there is no assurance that the proposed spin-off listing will take place.
Oriental University City owns and leases educational facilities on a site in Langfang city, in China's Hebei province.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Middle East violence brings fears of rate hikes, inflation back to markets
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife requests trading halt after dropping 15.2% to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Inside TSMC chairman Mark Liu's short but impactful reign
CSE Global bags US$36.5 million data centre contract extension