Weiye to spin-off equipment arm to Catalist
AFTER staging a reverse takeover of ailing mainboard-listed cleanroom equipment maker Kyodo-Allied Industries back in 2011, Chinese property developer Weiye Holdings is now spinning off the cleanroom equipment manufacturing business again, and this time to the Catalist board.
Weiye has lodged a preliminary offer document for the business, now called Eindec Corp, it said in a Singapore Exchange filing on Friday.
Eindec's initial public offering (IPO) will be done entirely through placement. The IPO price and trading date have not been announced yet.
Apart from making clean room equipment, Eindec plans to start selling air purifiers to consumers in China, it said in the preliminary offer document, adding that it has factories in Malaysia and Singapore.
The company said there was increasing demand from emerging markets for clean room equipment, and increasing demand for air purifiers in China.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters